Dave Dawes, 47, worked at the Premier distribution department in Wisbech before scooping the £101M Euro-Millions jackpot with his wife Angela, 43.
Premier’s share price has tumbled by 86% over the past six months to around 4p a share, and the Hovis and Mr Kipling owner now has a market capitalisation of about £90M.
£10M to spare
Dawes – who announced his retirement immediately after confirming the lottery win – could in theory buy Premier Foods outright and still have more than £10M to spare.
But chief financial officer Jim Smart told the Financial Times: “I suspect he has better things to spend his money on.”
A company insider added: “People are making the comparison between market cap and the size of the win – but bear in mind when you buy a company, you also have to take on the debt.”
Premier’s Wisbech plant recently transferred to Princes though Dawes remained employed by Premier. The site produces ready meals, sauces and canned goods for the Branston, Loyd Grossman and Batchelors brands.