Premier worker could afford firm after lottery win

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.