Premier Foods completes Specialty Powders deal

Premier Foods’s joint venture with Specialty Powders to produce powdered foods and drinks under contract at its Knighton factory has been completed on schedule.

In a statement released this morning (June 30), Premier said: “Further to its announcement on June 18 2014, Premier Foods is pleased to confirm that it has completed the joint venture transaction with Specialty Powders Holdings in relation to its powdered beverages and desserts business. The joint venture will trade under the name of Knighton Foods.”

The two companies aim to combine dry powders manufacturing capabilities and assets at Knighton, home to its Bird’s, Angel Delight and Marvel brands. Premier is also transferring two production lines from Knighton to its Ashford factory in Kent now it has clinched the deal.

Mike Kirby, majority shareholder and group md of Specialty Powders, has become chairman of the new venture.

“This innovative agreement will help us improve the efficiency of Premier’s grocery infrastructure and, at the same time, allows us to benefit from a dedicated team with expertise that can support our powdered beverages and desserts business,” said Premier’s ceo Gavin Darby.