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Date: Monday 13 Oct 2008

LONDON (ShareCast) - Hovis bread and Branston pickle group Premier Foods has confirmed speculation in the press that it is looking at ways of speeding up the reduction of group debt.

The Financial Times said Premier is in talks with private equity groups over a cash injection in the latest move to shore up its balance sheet. Net debt was £1.8bn at the end of June.

“In recent months, the group has been approached by several parties with proposals in line with this stated priority,” said the foods business. “The group is examining these proposals amongst other options and a further statement will be made as and when appropriate.”

“In the meantime trading continues to be broadly in line with expectations,” it added.

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