Associated British Foods Plc (ABF.L,ASBFY.PK) announced the acquisition by Westmill Foods of Elephant Atta and smaller related ethnic flour brands from Premier Foods Plc (PFD.L).
Premier Foods will continue to mill and package the flour with the brands being managed independently from Westmill Foods until regulatory approval is obtained. The cash consideration for the acquisition is 34 million pounds.
George Weston, chief executive of Associated British Foods, stated, "Elephant Atta is the UK's leading ethnic flour brand and will complement Westmill's other leading ethnic brands including Tolly Boy rice, Rajah spices, Lucky Boat noodles and Patak's pastes and sauces."
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