The iconic brand has exchanged hands with private equity firm Endless LLP after being put up for sale during the pandemic – with offers toping the £100million mark
Bakery giant Hovis has been sold in a multi-million deal by its owner Premier Foods.
The 134-year-old brand has exchanged hands with private equity firm Endless, a month after being put up for sale.
Nish Kankiwala, the CEO of Hovis, said: “Based on our extensive engagement with Endless over the past several months, it became clear that both parties share a commitment to customers and colleagues and for building on Hovis’ heritage by investing in growing both the brand and product range.”
He emphasized that “this shared vision makes Endless the best shareholder to support our ambitious plans.”
“The acquisition will help drive our strategy for growth by bringing both strategic and operational value to Hovis,” Kankiwala added.
Just last month Italian food giant Newat Foods – which owns the Buitoni pasta brand – was said to be eyeing up the bread maker, in a move that would have seen it exchange hands for more than £100million.
