Branston pickle-maker Premier considers debt-reduction move

The maker of Branston pickle and Hovis bread today said it was looking at ways to speed up the reduction of its £1.8bn (€2.3bn) debt mountain.

Premier Foods said it had been approached by several parties with proposals for tackling its borrowings. It did not provide further details, but the announcement comes a day after it was reported the company was in detailed talks with CCMP Capital, formerly the private equity arm of JP Morgan, about it making a capital injection worth several hundred million pounds.