AB Foods confirms talks on Allied Bakeries deal with Hovis owner

(Sharecast News) - Associated British Foods on Tuesday confirmed it was in talks on a potential sale of its Allied Bakeries unit with Hovis bread owner Endless. In a short statement, London-listed ABF said it was in discussions "regarding a potential transaction" involving Allied, maker of Kingsmill bread.

"Allied Bakeries continues to face a very challenging market. We are evaluating strategic options against this backdrop and we remain committed to increasing long-term shareholder value. A further announcement will be made as and when appropriate," ABF said.

Reporting by Frank Prenesti for Sharecast.com