Premier Foods follows Quorn deal with canning sale

Premier Foods is in advanced talks to sell its canning operations to Princes, part of Japan's Mitsubishi Corporation, it was reported today.

Sources involved in the move expect the sale, which would raise about £220 million, to be sealed shortly but warned the talks could stumble, the Financial Times said.

Premier, Britain's largest food producer, yesterday agreed to sell its Quorn business for £205 million to cut its debt and said it could make further disposals if the price was right.