Loss-making Premier Foods – home to Mr Kipling and Bisto – boosted its turnaround today by admitting it is on track for a better than expected year.

The UK’s largest food manufacturer Premier Foods has landed a crucial deal to renew more than £1bn (€1.2bn) of loans.

The British firm Premier Foods has bought Campbells Soups in Ireland and UK in a €650m deal.

Premier Foods today said its new Branston baked beans range had snared 7% of the UK market in the first three months since its launch.

Premier Foods today said healthy Christmas sales had helped to compensate for lower demand created by the unusually mild autumn in the UK.