Mr Kipling is now preparing to stockpile ahead of Brexit
- Credit: Jason Alden/Newscast
It is far from 'exceedingly good' news for the owner of Mr Kipling - as it announced it is preparing to stockpile raw materials ahead of Brexit as concerns rise about the potential impact.
Premier Foods, which owns Bisto, Oxo and Mr Kipling, said it was having to take steps 'in the absence of certainty over the arrangements for the UK's departure from the EU'.
The business is expected to spend up to £10 million to prepare for the UK crashing out of the EU.
'The group shortly intends to start a process of building stocks of raw materials to protect the company against the risk of delays at ports,' Premier Foods announced.
It said it had spent several months looking at contigency plans for Brexit which looked at a 'range of scenarios' which the UK's departure could cause.
You may also want to watch:
'As part of this, Premier Foods have a cross-functional team in place which continues to keep the possible implications to our business under review.'
It added: 'This is purely a precautionary measure as Premier Foods, like all companies, ensures it's prepared for any Brexit scenario.'
- 1 Crisis in the unpicked fruit fields shows Brexit is rotten
- 2 Why Australian trade deal could complicate future post-Brexit agreements
- 3 Brexiteers propose return of imperial measurements in report on reducing 'red tape'
- 4 A furious Hoyle accuses government of misleading the House
- 5 Liz Truss urged to let parliament 'take back control' with Brexit trade deal scrutiny
- 6 Why don't Brexiteers like to talk about Brexit any more?
- 7 How the Kominsky Method grapples with growing old
- 8 When Eton took on a team of miners at football
- 9 Michael Gove insists Liz Truss is delivering 'what's best for Britain'
- 10 PM to reveal details of post-Brexit agreement with Australia
Premier Foods also announced it would be looking to sell its Ambrosia custard and rice pudding business following a difficult summer for the business.
Become a Supporter
The New European is proud of its journalism and we hope you are proud of it too. We believe our voice is important - both in representing the pro-EU perspective and also to help rebalance the right wing extremes of much of the UK national press. If you value what we are doing, you can help us by making a contribution to the cost of our journalism.