Clifford Chance

Clifford Chance advises Princes on its acquisition of Premier Foods' canned business

Leading international law firm Clifford Chance today announces it is advising Princes on its proposed acquisition of Premier Foods' canned grocery operations for £182 million.

The terms of the transaction will see the Crosse & Blackwell, Fray Bentos and Farrow’s brands being acquired by Princes, as well as the Premier Foods’ sites at Long Sutton and Wisbech transferring to Princes’ ownership. A number of other Premier Foods' brands, including Branston and Batchelors will remain under Premier Foods’ ownership but be licensed to Princes on a long-term arrangement.

The Clifford Chance team was led by Corporate partner Jonathan Beastall, and included antitrust advice from Alex Nourry and support from other parts of the Firm including Stuart Padgham and Dan Royle in the Corporate practice; Tim Sherwood-King, Katrina Moore and Ben Stansfield in Real Estate and Imogen Clark and David Sims in Tax, Pensions and Employment.

Lead partner, Jonathan Beastall said, "We are delighted to have advised Princes Limited on this important acquisition. As a carve out from Premier's existing business there were numerous separation issues that needed to be addressed by both sides. In advising Princes, the Firm was able to draw on both its expertise in a range of legal disciplines and its consumer goods sector experience to bring the deal to a successful conclusion."