LONDON – 24 December 2004 – LAWFUEL – Best for law news – Arnold & Porter LLP’s London team represented Kraft Foods UK Limited on the sale of Bird’s custard, Angel Delight and associated brands to Premier Foods plc for £70 million. The transaction is expected to close in the first quarter of 2005.
The Bird’s dessert business comprises of 17 leading branded and out of home products and is one of the UK’s oldest packaged grocery brands. Bird’s was acquired by General Foods several decades ago and has been part of Kraft since 1989.
Kraft Foods, Inc. is a global leader in branded foods and beverages with 2003 net revenues of more than $31 billion. Built on more than 100 years of quality and innovation, Kraft has grown to become the largest food and beverage company headquartered in North America and the second largest in the world, marketing many popular brands in more than 150 countries.
The Arnold & Porter LLP team was led by partner Jeremy Willcocks, and included partners Sarah Kirk and Tim Frazer and associates Josie King and Jamie Fraser. Premier Foods was advised by Weil, Gotshal & Manges led by James Gubbins.