Premier Foods to split bread and grocery businesses

UK food manufacturer Premier Foods has added to its executive team after announcing plans to separate its bread and grocery businesses.

“The focus for grocery will be on continuing to build momentum behind the company’s branded portfolio, which represents 86% of total grocery sales,” said a Premier statement.

“In bread, a more fundamental approach will be taken to help unlock future value and address the category challenges faced by this division. The company will, however, continue to preserve appropriate benefits of scale between the two divisions wherever they exist.”

Premier has appointed Geoff Eaton, formerly Uniq PLC’s chief executive as its new chief operating officer and executive director. Eaton will report to Michael Clarke, Premier’s chief executive.

Premier recently reported a 27% slump in profits from its bread business to £22.5 million for the first half ending 30 June.