Lenders to Hovis owner Premier Foods have hired advisers to help push through a speedy reduction in the company’s debt burden, it was reported today.

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.

Branston Pickle firm Premier Foods unveiled plans for the makeover of its entire Hovis range today.

Debt-laden Hovis bread maker Premier Foods secured vital breathing space today as it battles against soaring interest payments and wheat prices.

Hovis bread maker Premier Foods today slashed its final dividend and revealed extra banking facilities to help it cope with rising debt payments and soaring wheat prices.

Branston Pickle-to-Oxo stock cube maker Premier Foods said today that May and June’s wet weather had boosted its performance.

Branston Pickle owner Premier Foods hailed the success of its Campbell’s acquisition today after revealing a 12.2% rise in annual profits.

The London market headed towards the Christmas break in lacklustre mood today following a downbeat finish on Wall Street and a spate of profit taking in Asia.

The owner of Branston Pickle stocked up on some of Britain’s best known brands after agreeing the £1.2bn (€1.8bn) takeover of Hovis owner RHM today.

A £1.2bn (€1.8bn) takeover of RHM by Premier Foods caused shares in the food sector to surge today.

Hovis and Mr Kipling firm RHM today backed a £1.2bn (€1.8bn) takeover by Branston Pickle owner Premier Foods.

Friends Provident led the FTSE 100 Index into the black today after better-than-expected sales figures.

Hovis-to-Mr Kipling foods group RHM today said that price hikes in its bread division had helped it to a 2% increase in half-year sales.

Hanson shares jumped 6% today as investors bought into speculation that he building materials group had received and subsequently rejected a takeover approach.

The FTSE 100 Index hit its highest level since mid-May today as interest rate worries which have blighted global stock markets for more than a month showed signs of easing.

Foods giant RHM unveiled £5m (€7.2m) of extra marketing today as it prepared to launch new products in its Hovis, Bisto and Sharwood’s ranges.

Interest rate worries showed signs of easing today after the FTSE 100 Index jumped 70 points and investors prepared for a strong start on Wall Street.

The FTSE 100 Index sank back below the 6100 mark today as weaker financial stocks offset a boost to the mining sector from record copper prices.

Mr Kipling owner RHM today said action to reverse the decline in demand for its cakes had resulted in a much stronger performance in the second half of the financial year.

DISAPPOINTING sales of Mr Kipling cakes yesterday overshadowed food producer RHM’s first set of results since floating on the London stock market in July.

A pre-Christmas boost for retailers helped power an upbeat performance by the FTSE 100 Index today.

Positive news for some of the UK’s biggest retailers helped the FTSE 100 Index edge further above the 5500 mark today.

The FTSE 100 Index ended a choppy week in positive mood today as it broke through the 5200 barrier buoyed by a strong session on Wall Street and impressive gains by drugs giant GlaxoSmithKline.

British food producer RHM was valued at £958m (€1.4bn) today as the City clamoured for a slice of the maker of Hovis bread, Paxo stuffing and Mr Kipling cakes.

The maker of Mr Kipling cakes and Bisto gravy will be valued at up to £975m (€1.4bn) when it floats on the London stock market, it emerged today.

US giant Heinz is expected to confirm today that it has bought the maker of HP sauces for €702m.

Premier Foods and Associated British Foods were today reported to have lost out to US giant Heinz in the battle for the maker of HP sauces.

The maker of Mr Kipling cakes and Paxo stuffing kicked off plans today for a flotation that could value it at more than £1bn (€1.5bn).