Wragge & Co closes £182m Premier deal
The Birmingham team at law firm Wragge & Co has advised Premier Foods on the £182m sale of its canned grocery operations. The deal was led by Wragge and Co’s food and drink sector team.
Premier Foods, based in Hertfordshire, sold its canned groceries division to Princes. The deal was Wragge & Co's first corporate instruction from Premier.
Under the agreement, Princes will take ownership of the division, which employs 1,600 people. It includes the sale of a number of famous brands such as Crosse & Blackwell, Fray Bentos, Farrows and Smedleys.
The sale is conditional upon receiving consent from Premier Foods' lending banks, its shareholders and also merger control clearance from the European Commission.
Corporate partner Richard Haywood led the transaction.
He said: "Wragge & Co has acted for Premier on a range of matters in the last year. It is a great client to work with and an impressive organisation. In supporting Premier in this latest deal we drew on our extensive food sector experience and M&A expertise."
