Premier Foods plans to look for acquisitions after it floats on AIM later this month, according to media reports.

Premier, which is home to Branston Pickle, Typhoo Tea, Cross & Blackwell foods and Sun-Pat peanut butter, hopes to raise £300m from the initial public offering and has set a rough price range of 230-260p a share.

The company hopes that by floating on AIM it can reduce its borrowings, which will then put it in a stronger position to consider acquisitions.