March 1, 2021

Italian-Restaurant

For Everyone Else

Hovis receives takeover bid from Italy’s Newlat Foods

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PA

The maker of Hovis bread could be transforming possession soon after Italy’s Newlat Food introduced a bid to invest in the 134-12 months-aged organization.

In a assertion on its web site, Newlat explained it had built a non-binding give to shareholders of Hovis Holdings Ltd.

It explained Hovis as a manufacturer with “a great custom and recognisability in the United Kingdom”.

Hovis is owned by Leading Foods and US investment decision business the Gores Group, which acquired a controlling stake in 2014.

Newlat stated it was awaiting suggestions from shareholders.

It additional that acquiring Hovis would help it to attain its intention of turning into one particular of the most critical operators in the food stuff sector in Europe.

Primarily based in Large Wycombe, Hovis employs 2,800 people in eight bakeries, a person flourmill and a few distribution centres throughout the British isles.

Milan-centered Newlat makes a assortment of dairy items and pasta.

Victorian origins

Like numerous perfectly-identified British makes, Hovis has experienced a succession of house owners in excess of the decades.

It originated in the Cheshire city of Macclesfield in 1886 at the flour mill of Samuel Fitton and Sons, when miller Richard “Stoney” Smith discovered a way of milling flour that preserved the nutrition in the wheatgerm.

The procedure was patented the subsequent 12 months and the name was picked out in 1890 pursuing a national competitiveness.

Hovis is a contraction of the Latin phrase “Hominis Vis”, indicating “strength of Guy”.

In 1962, pursuing a sequence of mergers, it grew to become element of Rank Hovis McDougall (RHM).

Hovis was the matter of one of the UK’s most effective-cherished Tv set commercials in 1973, which also released the vocation of film director Ridley Scott.

It depicts a boy pushing his bicycle up a hill to the soundtrack of a brass band variation of Dvorak’s New Entire world Symphony.

RHM was purchased up by Premier Meals in 2007. Seven decades afterwards, Premier Food items offered a 51% stake to the Gores Team, earning Hovis Ltd an Anglo-American joint undertaking.