It is anticipated that the creator of Hovis bread could be shifting ownership after Italy's Newlat Food threw a bid to acquire the 134-year-old firm. Newlat, headquartered in Milan, manufactures a variety of dairy products and pasta.
In a declaration on its website, Newlat said it had put forward a non-obligatory offer to shareholders of Hovis Holdings Ltd. It pronounced Hovis as a brand with a great tradition and recognisability in the United Kingdom.
Newlat confirmed it was waiting for feedback from shareholders. They accepted that buying Hovis would help their company to accomplish its goal of becoming one of the most prominent hands in the food sector of Europe.
Read the full article here