Premier Foods Completes RHM Acquisition

Premier Foods, whose brands include Branston Pickle and Angel Delight puddings, said Friday it completed its 1.23 billion pound ($2.4 billion) acquisition of RHM, the maker of Bisto gravy.

The court orders sanctioning the plan and confirming the capital reduction were delivered to the registrar of companies this week, Premier Foods said.

Premier Foods said in December it made the cash and share offer for RHM to create Britain's biggest food producer. Premier paid one new share and 83.2 pence ($1.65) for every RHM share.

RHM shareholders now hold 41% of the enlarged company, and Premier shareholders 59%.

Premier Foods shares dropped 0.6% to 294.5 pence ($5.70) on the London Stock Exchange.