Italian New Rat Food (BIT:NWL) has become the latest group to start bidding to buy Hovis.
The 134-year-old bread brand, owned by Premier Foods (LON: PFD) and US investment company Gores Group, is described by Newlat Food as a brand with “great British traditions and recognition potential.”
Newrat is listed on the Milan Stock Exchange and also has a significant market share in Germany.
Hovis employs 2,800 people across the UK. As consumers stockpiled, sales at the brands skyrocketed on the lockdown.
Newlat Food is not the only company that has launched a bid for Hovid. Other bidders include Endless, Epiris and Aurelius Equity opportunities.
In a statement on their website, Newlat said: “Newlat Food is waiting for feedback from Hovis shareholders, so any other details regarding the transaction will be notified of the evolution of negotiations.”
Premier Foods shares are trading -1.62% at 97,20 (1356GMT).
