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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/premier-slims-down-with-quorn-sale.jpg"><img class="alignnone size-full" title="Hovis manufacturer Premier Foods has sold its meat-free brands Quorn and Cauldron to two private equity firms for £205 million" src="http://londonglossy.com/wp-content/uploads/2011/01/min-premier-slims-down-with-quorn-sale.jpg" alt="Hovis manufacturer Premier Foods has sold its meat-free brands Quorn and Cauldron to two private equity firms for £205 million"/></a></p>
<p>Premier Foods has sold its meat-free brands Quorn and Cauldron to a private equity consortium for £205 million.</p>
<p>Exponent Private Equity and Intermediate Capital Group bought the meat-free division, which has three manufacturing sites in the UK and employs nearly 595 staff, ending months of speculation over the group&#8217;s plans for the two brands.</p>
<p>Premier, which produces Hovis bread and Mr Kipling cakes, has been weighing up its options as it looks to alleviate a £1.4 billion debt pile built up following an acquisition spree that included Hovis owner RHM and Campbell&#8217;s Soup in the UK and Ireland.</p>
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