首相 Foods 計画（する）s £1bn float

By Robert Lea
Updated: 00:00 BST, 10 May 2004

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A BASKET of Britain's favourite grocery brands is 始める，決める to come to the 株式市場 as it 現れるd Typhoo tea-to-Branston pickle group 首相 Foods is 準備するing for a flotation that, at more than £1bn, will make it London's biggest new 問題／発行する so far this year.

The starting gun was so unded on a float as it 現れるd the company's Texan owners, the Hicks, Muse, Tate & Furst 投機・賭ける 資本／首都 house, has 任命するd 投資 bank Merrill Lynch to look at bringing it to market.

Hicks, Muse has 組み立てる／集結するd a formidable 大臣の地位 of brands at 首相, which last year had sales of £890m and operating 利益（をあげる）s of £79m.

The 初めの 首相 Foods group based on Typhoo, Cadbury's hot chocolate and the Chivers and Hartley's jellies and jams brands was built up by Hillsdown Holdings.

After Hicks, Muse bought the 商売／仕事 in 1999, it acquired Branston, Sarson's vinegar and Sun Pat peanut butter.

首相 has brought in new 管理／経営 激しい in publiccompany experience, 含むing 長，指導者 (n)役員／(a)執行力のある Robert Schofield, a former managing director of 部隊d 薄焼きパン／素焼陶器s, and 財政／金融 director Paul Thomas, 以前 of Bass the brewers.

Hicks Muse bought Weetabix for £640m before Christmas, but it is uncertain whether it will be part of the 首相 float.

? Northern Foods has sold its loss-making Eden Vale 子会社 producing fresh 冷気／寒がらせるd desserts and yogurts for 示すs & Spencer and Asda to 競争相手 Uniq, the former Unigate, for £16.5m.