Kingsmill maker Associated British Foods (ABF) is exploring a deal for its Allied Bakeries business. The move could bring together some of the UK’s biggest bread brands – Kingsmill and Hovis, according to a Reuters report.
Hovis bread prices will remain unchanged for the rest of the year, following an increase by almost a third as a result of the war in Ukraine and ensuing material and energy price hikes.
Hovis recently reported a pre-tax loss of GBP 28.6 million in 2022, while in 2021, it enjoyed a profit of GBP 20.2 million. Hovis has recorded GBP 309.8 million in sales by September ‘22, down from GBP 367.9 million the year before, according to the Times.
A strike planned by the workers at Hovis’ Belfast plant was suspended as they consider an improved pay offer made by the management. The strike was scheduled for March 5 and was suspended last moment, with the workers union, Unite, warning that a strike would impact bread supplies across Northern Ireland.
Prior to this role, Jenkins held the helm of Muller for nearly three years. He was also the CEO role of Allied Milling and Baking for almost five years.
Hovis CEO Nish Kankiwala will pass on the leadership of the British bakery at the end of September. Current non-executive director, Robert Higginson, will step in as the company’s interim CEO.
