Kingsmill owner agrees to buy Hovis in deal that could create UK’s biggest bread brand | Mergers and acquisitions

The owner of Kingsmill agreed to purchase with an agreement that could form the British largest bread brand if the competitive HOVIs, competition regulators approved the competition regulator.

The agreement comes after a decrease in the popularity of the packed with Hovis, the private capital company Endless, and the rival Kingsmill – a part of the Associated British Foods (ABF) – for several years.

Abf, which also owns the Primark clothing chain, said that the connection will combine the production and distribution activities of the two enterprises expected to lead to the spill of roles.

The potential merger between Britain’s second and third largest bread brands will be examined by the observer of the competition, where it can take a year. Competition and Markets Authority will have to decide whether the brands of the brands have faced sufficient competition in price and quality from the supermarket of their own labels and other options, as well as from the current market leader Warburtons.

Hovis directors, Companies House in recent accounts, the next year before September before September, any agreement is not “concluded” and the investigation will continue until then, he said.

Sales in Hovis, which employ 2,925 people, fell with a decrease of approximately 9% until September 28, 2024, because the pre -tax damages rose to £ 4.7 million years ago, 3.6ma years ago after 530,000 £ 530,000 years ago.

Throughout the year, he said that he has been fighting with “extreme price volatility between key raw materials”.

Meanwhile, according to the analysts in the Panmure Lerum, allied furnaces, including the oven section of the Abf, Kingsmill, Allinson and Sunbest, are damaged by about £ 30 million annually despite the sale of approximately £ 400 million.

Both enterprises face a strong competition from the Warburtons, the largest bread brand in England, which has won a larger slice of the market through innovation from the Dev Crumpets to seeded furnaces. It seems that it now explains more than a quarter of the packaged bread sold.