The deal is in line with Premier’s effort to trim a £1.27bn debt pile accumulated during a buying spree before the financial crisis.
Warburg has made wholesale changes to Premier since buying the firm in March 2009, replacing nine of the top 11 managers and appointing senior advisor Charles Miller-Smith as deputy chairman.
Premier CEO Michael Clarke, the former president of Kraft Foods Europe, said he plans to drive the business forward by focusing on eight “power” brands following his appointment in August last year.
The sale comes two months after Premier sold Sun Pat peanut butter and Hartley’s Jam spread to Hain Celestial Group.
Mizkan, which makes condiments including rice vinegars, previously bought Premier’s vinegar and sour pickles business for £41m pounds in July.
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