Premier Foods ‘eyeing Uk Pizza Business Crosta Mollica’

Credit: Crosta Mollica

Premier Foods is reportedly eyeing up an acquisition of pizza business Crosta Mollicca but has refused to corroborate nan speculation.

Just Food was provided pinch a “no comment” from Premier Foods erstwhile asked to verify imaginable liking successful UK-based Crosta Mollica, which besides produces pasta and Italian flatbreads for awesome supermarkets.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to scope engaged professionals crossed 36 starring media platforms.

Find retired much

Sky News said yesterday (19 March) nan Mr Kipling and Sharwood’s sauces shaper was ‘considering’ a £200m ($267.8m) bid for nan company.

Premier Foods is ‘among nan parties exploring offers’, nan broadcaster said.

Under CEO Alex Whitehouse, London-listed Premier Foods has struck a number of M&A deals, nan astir caller of which was announced successful August – ready-to-eat pulses and grains business Merchant Gourmet for £48m.

Cereal, snack bars and beverage drinks shaper Fuel10K was brought connected committee successful 2023 for £34m aft Whitehouse returned Premier Foods to nan acquisition array for nan first clip successful much than a decade, striking a £44m woody for The Spice Tailor nan erstwhile year.

London-based Crosta Mollica markets its products nether nan Made successful Italy banner and occupies a pricier slot successful nan pizza aisle, trading for astir £6.

Speaking to Just Food past year, executive president David Milner said 80% of nan company’s income were generated successful nan UK and nan remainder successful Europe. It besides supplies ail bread, amaretti biscuits and Italian desserts.

Just Food has asked Crosta Mollica for remark connected nan Sky News‘ report.

Under Whitehouse’s watch since 2019, Premier Foods has reduced its indebtedness to nan lowest level ever – conscionable short of £144m past year, erstwhile income roseate 3.5% to £1.15bn. Its nett indebtedness to adjusted EBITDA stood astatine 0.7 times, down from 1.2 successful 2024.

Crosta Mollica would fresh pinch Whitehouse’s exemplary to attraction connected branded growth, supplemented by bolt-on acquisitions.

The institution reported a trading profit of £187.8m past year, up 6%. Net profit aft taxation roseate 6.5% to £161.3m.

Its shares person climbed 8% this twelvemonth to guidelines astatine 183 pence.