31 August 2017
Premier Foods plc ("the Company")
PREMIER FOODS COMPLETES SIGNING OF STRATEGIC GLOBAL PARTNERSHIP FOR CADBURY CAKE WITH MONDELĒZ INTERNATIONAL
Premier Foods today announces it has completed the signing of 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. This is further to the announcement on 8 May 2017 which outlined the signing of a 'Heads of Terms' with Mondelēz International.
All key terms are as previously announced, and include the following highlights:
· The new partnership is effective from 1 September 2017 and will run until 2022, with an option for the Company to extend this to 2025, subject to meeting certain performance criteria.
· Total number of licenced countries expands to 46 (previously 10 countries) and now includes South Africa, Canada, Japan, China and India, amongst others.
· Potential to use the full range of Cadbury brands in ambient cake such as Flake, Crunchie, Caramel and Marvellous Creations in addition to the Oreo brand.
Gavin Darby, Chief Executive Officer, Premier Foods, said:
"Building on a relationship which now spans over 30 years, we are delighted to have completed the signing of this new strategic global partnership with Mondelēz International, and we look forward to working with them in years to come. We are particularly pleased about the expanded scope of geographies and brands, given the opportunity this provides us to further accelerate the growth of Premier Food's International Business".
Glenn Caton, President of Northern Europe, Mondelēz International welcomed the ongoing partnership:
"We are very proud of our long term partnership with Premier Foods and are delighted to be continuing to work together to nurture and develop our well-loved portfolio of brands and products. The future is bright for Cadbury cakes and for the people that love them."
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For further information please contact:
Marisa Fitch, Head of Corporate Affairs |
+44 (0) 1727 815 850 |
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Maitland |
+44 (0) 20 7379 5151 |
Sundeep Tucker |
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Tom Eckersley |
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