Premier Foods to hand off frozen pizza unit [Yahoo! Finance]
PREMIER FOODS UNSP/ADR (PRRFY)
NASDAQ:AMEX Investor Relations:
premierfoods.co.uk/investors/investor-centre
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Source: Yahoo! Finance
The move has been made as the Bisto gravy producer "doubles down on its strategy of investing in and growing its portfolio of well-known brands". Following the decision, Premier's Charnwood Foods factory in Wingston, Leicester, will shut by the end of July. The Charnwood site processed frozen pizza bases for "a small number" of foodservice clients. Fifty-seven jobs will be cut as a result of the site closure. In a statement, chief marketing officer Yilmaz Erceyes said: “Our brands are the beating heart of our business and the main driver behind our strong performance over the past six years. Given that focus, we are choosing to leave the market for commoditised ingredients such as frozen pizza bases, which don't fit with our growth strategy and only contribute a very small fraction of our overall sales. “I want to thank the team at Charnwood for everything they have done to help support the growth of our business as we continue our development as a leading producer of great
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