Premier Foods plc Completion of Strategic Global Partnership (3991P)
August 31 2017 - 1:01AM
UK Regulatory
TIDMPFD TIDMIRSH
RNS Number : 3991P
Premier Foods plc
31 August 2017
31 August 2017
Premier Foods plc ("the Company")
PREMIER FOODS COMPLETES SIGNING OF STRATEGIC GLOBAL PARTNERSHIP
FOR CADBURY CAKE WITH MONDEL Z INTERNATIONAL
Premier Foods today announces it has completed the signing of a
strategic global partnership with Mondelēz International to renew
the Company's long-standing licence to produce and market Cadbury
branded cake and ambient dessert products. This is further to the
announcement on 8 May 2017 which outlined the signing of a 'Heads
of Terms' with Mondelēz International.
All key terms are as previously announced, and include the
following highlights:
-- The new partnership is effective from 1 September 2017 and
will run until 2022, with an option for the Company to extend this
to 2025, subject to meeting certain performance criteria.
-- Total number of licenced countries expands to 46 (previously
10 countries) and now includes South Africa, Canada, Japan, China
and India, amongst others.
-- Potential to use the full range of Cadbury brands in ambient
cake such as Flake, Crunchie, Caramel and Marvellous Creations in
addition to the Oreo brand.
Gavin Darby, Chief Executive Officer, Premier Foods, said:
"Building on a relationship which now spans over 30 years, we
are delighted to have completed the signing of this new strategic
global partnership with Mondelēz International, and we look forward
to working with them in years to come. We are particularly pleased
about the expanded scope of geographies and brands, given the
opportunity this provides us to further accelerate the growth of
Premier Food's International Business".
Glenn Caton, President of Northern Europe, Mondelēz
International welcomed the ongoing partnership:
"We are very proud of our long term partnership with Premier
Foods and are delighted to be continuing to work together to
nurture and develop our well-loved portfolio of brands and
products. The future is bright for Cadbury cakes and for the people
that love them."
<ends>
For further information please contact:
Marisa Fitch, Head of Corporate +44 (0) 1727
Affairs 815 850
+44 (0) 20 7379
Maitland 5151
Sundeep Tucker
Tom Eckersley
This information is provided by RNS
The company news service from the London Stock Exchange
END
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