Premier Foods – 107p

30 October 2012 – disposal

The group has announced yet another disposal with the conditional sale of its sweet pickles and table sauces business to the Mizkan group for £92.5m.  The business sold includes the iconic Branston brand as well as a significant private label business.  The sale will mean that the company has raised £370m in disposal proceeds since March 2012, significantly ahead of the target of £330m which was due to be rasied by June 2014.  Although the shares have moved up strongly since last week’s recommendation at 83.75p they remain a SPECULATIVE BUY.

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