Sale goes to custard

PREMIER Foods has stopped the sale of its custard business. The Mr Kipling owner has called off the sale of Ambrosia after failing to get a high enough offer for the Devon-based brand. Around 300 staff work at Ambrosia’s factory in Lifton. Shares dipped 1.2pc, or 0.45p, to 36.75p. Premier Foods, – whose chief executive Gavin Darby stepped down last month after he was accused of presiding over a ‘zombie-like’ performance – had planned to sell Ambrosia to boost its performance and pay its £500m debt pile. Russ Mould, investment director at AJ Bell, said: ‘Failure to sell Ambrosia leaves Premier Foods in a sticky mess.’