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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/quorn-sale-narrows-to-two-bidders.jpg"><img class="alignnone size-full" title="Hovis firm Premier Foods said it was in advanced talks with two parties over the sale of Quorn" src="http://londonglossy.com/wp-content/uploads/2010/12/min-quorn-sale-narrows-to-two-bidders.jpg" alt="Hovis firm Premier Foods said it was in advanced talks with two parties over the sale of Quorn"/></a></p>
<p>Hovis-to-Mr Kipling firm Premier Foods has said it was in advanced talks with two parties over the sale of its meat-free food range Quorn.</p>
<p>The statement follows speculation that named Swiss consumer giant Nestle as a frontrunner in the auction, which could value Quorn at more than £200 million.</p>
<p>Premier has not identified the potential suitors but confirmed it was in advanced talks with two parties after receiving initial approaches from multi-national food groups and private equity firms. It said there was no guarantee that a sale of its meat-free business will take place.</p>
<p>However, Premier has already said it is open minded about disposals as it looks to alleviate the £1.4 billion debt pile built up following an acquisition spree that included Hovis owner RHM and Campbell&#8217;s Soup in UK and Ireland.</p>
<p>Quorn, purchased for £172 million from Marlow Foods in 2005, is said to be valued at between £200 million to £250 million. It is understood to be one of a raft of brands potentially up for sale as part of the debt reduction plan.</p>
<p>Premier received an approach for the Mr Kipling cake business last year and there has been speculation its Hovis bread brand could go up for sale.</p>
<p>The first Quorn product was launched in 1985 using a specially developed protein-based ingredient called mycoprotein, and it has since become a popular meat substitute for vegetarians.</p>
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