MBMG Management to Acquire MBMG From Premier Foods

As of the 5th March 2007, Premier Foods plc have entered into a non-binding agreement with key management of the MBMG business for them to acquire the share capital of MBM Produce Limited and Monument (GB) Limited which trades as MBMG.

Pepe Bascetta, MBMG’s Managing Director said ‘We believe this is the best way to take the business forward and our key focus for this agreement is to give re-assurances to our customers, growers, key suppliers and employees that the business will continue largely as it is, but as an independent company.

While Premier Foods have been supportive of MBMG over the last 24 months as we have re-structured the business, we are firmly of the view that the business can and will progress quicker as a separate entity.

We will clearly keep everyone informed of the completion of the deal as far as plc rules and regulations allow.’