London / UK. (tst) Premier Foods PLC has put a French bakery business up for sale as part of the group´s drive to cut debts. The disposal of Sofrapain (Trappes – Lyon – Morangis) is being handled by Stamford Partners, a boutique investment bank that specialises in food-industry deals – British «Times Online» reported, without saying how it obtained the information. News of the Sofrapain move (without reference …) comes two months after Premier Foods slashed its dividend and rejigged its banking arrangements to stabilise its finances. At the end of 2007, Premier Food´s debts stood at 1,6 billion GBP. This followed the takeover of RHM in 2007, maker of Hovis bread and Mr Kipling cakes.
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