Premier Foods gets debt deal

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Premier Foods has agreed a refinancing package aimed at securing the company’s long-term future.

The company, which produces a number of household favourites including Hovis, Mr Kipling and Branston Pickle, has renewed £1.3 billion of loans and extended repayment deadlines from December 2013 to June 2016.

This latest agreement, to be finalised at the end of March, will allow the company to focus investment on eight power brands including Lyod Grossman sauces which are produced at the company’s Bury St Edmunds factory.

Premier Foods has said its focus continues to be to stabalise the business and invest in future growth.