Kingsmill owner to buy Hovis in £75m deal to create UK’s biggest bread brand

Jobs expected to go if competition watchdog approves takeover by Associated British FoodsBusiness live – latest updatesThe owner of Kingsmill has agreed to buy its rival Hovis in a deal worth an estimated £75m that could create the UK’s biggest bread brand if the competition regulator approves it, but also put jobs at risk.The deal comes after decades of decline in the popularity of the packaged sliced loaf, with Hovis, owned by the private equity company Endless, and its rival Kingsmill – part of Associated British Foods (ABF) – struggling to get out of the red for some years. Continue reading...

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