Nestlé is thought to be the frontrunner in the talks, but Premier Foods declined to comment.
In a statement the company, which also owns brands including Hovis, Mr Kipling and Branston, says: “Premier Foods confirms that it has received bids from a number of parties, including multinational food groups and private equity firms. Discussions are proceeding and are at an advanced stage with two parties”
The sale has been subject to speculation for several months but despite confirming “advanced” discussions about its sale, Premier Food maintains that it may not sell its meat-free business.
The company adds that it is “open-minded” about disposals if they are of benefit to the business and shareholders.