Premier Foods, the UK food company that produces Branston baked beans and Batchelors soups, has agreed to sell much of its canned foods business to Princes.

In a £182 million (US$292m) deal that is subject to a number of conditions, the Premier Food canning operations at Long Sutton in Lincolnshire and Wisbech in Cambridgeshire will become part of Liverpool-based Princes whose business will grow to £1.5 billion ($2.4bn) a year.

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