Premier Foods has signed an agreement with 2 Sisters Food Group to sell its Brookes Avana business comprising of RF Brookes chilled foods and Avana Bakeries for a cash consideration of £30m.
Michael Clarke, CEO, Premier Foods, said: "The sale of Brookes Avana underlines our commitment to focus the business on growing a smaller number of brands. Brookes Avana will have a better opportunity to grow with 2 Sisters Food Group given their focus in the chilled food sector. I wish them every success in the future."
Ranjit Singh, chief executive, 2 Sisters Food Group, said: "We are delighted to reach agreement on the proposed acquisition of Brookes Avana. The business has a strong track record in delivering high quality products for its customers and would provide a growth platform for 2 Sisters and increased product diversity to serve every eating occasion.
"This is an excellent strategic fit and, following completion, we will focus on delivering growth opportunities and enhancing the performance of the business."
Source: Premier Foods
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