date:Jan 28, 2014
wly-formed entity to increase investment behind its key bread brand, Hovis. The joint venture partners have agreed to invest GBP45m in Hovis, in a bid to both improve efficiency and build brand equity. Gores and Premier plan to invest around GBP200m in the business over the next five years, the company said.
Premier had been seeking a joint venture partner for its ailing bread business since last year, because it lacks the funds needed to invest in the unit. Premier is a highly leveraged compan