Paulson & Co, the hedge fund firm led by John Paulson, has increased its overall interest in Britain’s Premier Foods Plc to 11.9%.
The activist investor’s move comes two months after chief executive Gavin Darby stepped down, following a shareholder revolt, led by activist hedge fund Oasis Management. Darby stepped down as CEO on January 31. Some investors had criticised Darby for a failed takeover bid by US spice maker McCormick & Company in 2016.
Japan’s Nissin Foods is the largest shareholder in Premier Foods with a stake of 19.6%.