The sale to Princes, the UK food and drinks group owned by Japan’s Mitsubishi, comes just weeks after Premier sealed the £205m disposal of its Quorn meat-free business.
The buyout nets Premier’s canned grocery operation, including factories at Long Sutton in Lincolnshire and Wisbech in Cambridgeshire. Princes has also secured a long-term licence to make products such as baked beans and pasta in cans under the Branston and Batchelors brands.
Ken Critchley, Princes managing director, said: “This proposed acquisition is an excellent strategic fit for our group and would enable us to further grow our business in the UK and continental Europe by offering our customers a broader range of ambient food products and brands.”
The disposal excludes Premier Foods’ Ambrosia branded canned desserts operations in Lifton, Devon, which is being retained.
Premier’s chief executive, Robert Schofield, said: “Selling the business simplifies our operations and allows us to concentrate our efforts on our current portfolio of great British brands.”
Princes, which was established by Simpson & Roberts, began trading canned meats and vegetables in Liverpool in 1880.
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