Source - SMW
Premier Foods said it had terminated discussions with parties eyeing an acquisition its Ambrosia tinned custard brand, citing 'the present business climate'.

A 'number' of parties had expressed an interest in Ambrosia, the company said.

Since the New Year, it had moved on to conduct detailed talks with a small number of them.

'The board has concluded that in the present business climate the process will not result in a satisfactory financial outcome,' Premier Foods said.

'As a result, these discussions have now concluded.'