Premier Foods announces completion of sales of sweet spreads and jellies business to Hain Celestial Group for £200M
November 22, 2012
– PREMIER FOODS ANNOUNCES DISPOSAL OF HAIN CELESTIAL SHARES FOR £32.0m
On 27 October 2012, Premier Foods completed the disposal of the Sweet Spreads and Jellies business to The Hain Celestial Group, Inc. for an aggregate consideration of £200 million, satisfied by £170 million in cash and the issue of shares in Hain Celestial with a value of at least £30 million on completion.
The Company is pleased to announce today that it has completed the disposal of the Hain Celestial shares for total cash consideration of £32.0m. The total gross proceeds from the disposal therefore amount to £202.0m and will be used to pay down debt.