Premier Foods taps into meat-free trend with vegan Oxo beef stock cubes

Premier Foods is behind brands such as Oxo

Joanna Hodgson17 January 2020

Bisto gravy maker Premier Foods on Friday revealed it is creating a vegan version of its Oxo beef stock cubes, as the manufacturer looks to capitalise on the booming demand for meat-free products.

Alex Whitehouse, the chief executive of Premier Foods, said it is a move he thinks is “quite on trend”.

He gave the update as Premier Foods reported 2.6% sales growth for the third quarter to December 28.

Although the firm saw a “disappointing” performance in the international business, it cheered a 3.6% rise in UK sales.

Growth in Britain was led by the Mr Kipling cake brand, up 10%, with more than 200 million mince pies sold during the period.

During the period the company doubled its UK marketing investment. New product launches include Mr Kipling mini pies and tarts.

Premier Foods, which has come under pressure from some shareholders to reduce its debt pile and sell some brands, said a strategic review into the business “is nearing conclusion”.