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UK food manufacturer Premier Foods has acquired the remaining 51% of its Knighton Foods joint venture for a nominal sum, according to a report in Insider Media.
The joint venture with dry food processor Specialty Foods, was established in 2014 following the transfer of approximately £16 million of private label and business-to-business sales of powdered beverages and desserts from Premier Foods.
Knighton Foods, which operates out of a facility in Staffordshire, is the leading UK supplier of instant dry powder food products for retailers, manufacturers, food service customers and brand owners. The firm processes and packs a wide range of products including hot beverages, instant desserts, custards and whips, bakery ingredients, instant milks, coffee creamers and fat powders.
As a result of the deal, Knighton Foods will now become a 100% owned subsidiary of Premier Foods.
Source: Insider Media / Knighton Foods
