Business
Premier Foods Renews Relationship with Mondelez
Premier Foods Renews Relationship with Mondelez.
About this update from Premier Foods Plc
[{"type":"text","content":"\n \nRNS Number : 4260E Premier Foods plc 08 May 2017 \n\nFor immediate release\nPremier Foods plc\n8 May 2017\n \nPremier Foods plc (\"the Company\")\n \nPREMIER FOODS AGREES RENEWED RELATIONSHIP WITH MONDELĒZ INTERNATIONAL FOR STRATEGIC GLOBAL PARTNERSHIP FOR CADBURY CAKE\n \nPremier Foods today announces it has signed 'Heads of Terms' for a strategic global partnership with Mondelēz International to renew the Company's long-standing licence to produce and market Cadbury branded cake and ambient dessert products. Once finalised, the new licence will run until 2022, with an option for the Company to extend this to 2025, subject to meeting certain performance criteria.\n \nThe partnership is expected to unlock new growth opportunities in an exciting range of markets beyond the core licenced territories of the UK, Ireland, Australasia and United Arab Emirates bringing the total number of licenced countries to 46. New potential markets include South Africa, Canada, Japan, China, India, Asia Pacific, Caribbean and additional countries in the Middle East. The Company is already developing plans to launch Cadbury cake in two new significant markets in 2017/18. \n \nIn addition, the partnership will provide for the possibility, subject to approval, to use the full range of Cadbury brands such as Flake, Crunchie, Caramel and Marvellous Creations, as well as the Oreo brand, opening the door to further growth opportunities in cake in the UK and overseas.\n \nThe strategic deal has been outlined in a detailed document known as 'Heads of Terms' which is then expected to be finalised in definitive agreements in the coming weeks and builds on the Company's successful relationship with Mondelēz International and Cadbury established for over 30 years. In recent years, Cadbury cakes have seen impressive growth in the UK and Australia and have also been launched in the UAE. Over one million Cadbury Mini Rolls are now being produced every day at the Company's manufacturing facility in Moreton, on the Wirral, which is expected to grow in the future. \n \nCommenting on the renewed relationship, Gavin Darby, Chief Executive Officer, Premier Foods said:\n \n\"I'm delighted we're entering into a new long-term global partnership with Mondelēz International which will unlock exciting new gr...