Premier Foods announces search for investor

<p>Premier Foods is looking for an investor.</p>

Premier Foods, which owns top brands such as Hovis, has confirmed it is seeking a new investor to come on board.

The company revealed that it wants someone to provide an injection of funding into its bread business in the near future.

However, Premier Foods noted in a statement released today (November 6th) that there is no guarantee it will be able to find the investment it needs.

The firm also revealed that it has appointed financial advisory firm Ondra Partners "to assist in developing investment options for the bread business".

Premier Foods added: "There can be no certainty that a transaction will follow at any point in the future, but the company will provide updates as appropriate."

The share price of the firm is up today on the back of the announcement. At 14:20 GMT, stocks in the company were trading almost four per cent up on the start of the day.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.