The food manufacture is launching a range of part-baked rolls under its Hovis brand and claims to be the first brand to enter market. It hopes the Hovis Homebake brand will double the size of the market, currently worth £67m.
Premier Foods is also extending its Loyd Grossman For One range and relaunching its toasting range, which includes crumpets, white muffins, scotch pancakes and fruit teacakes, with new recipes and packaging.
It will also introduce a range of individual wrapped cakes under the Mr Kipling Snap Packs in a bid to make it suitable for one off treats and lunchbox occasions.
The strategy could even see Premier Foods extend its Sharwoods sauce brand into stir-fry restaurants.
Marketing director Jon Goldstone told Marketing Week last month that it would focus on stretching its six core brands into complementary categories as part of its aim to increase the percentage of sales from new products to 10% by 2012, up from 6% currently.
Goldstone also said the company wants brands to become a bigger part of its business and believes its Hovis, Mr Kipling, Ambrosia, Bisto, Lloyd Grossman and Sharwood brands could be two or three times bigger than they currently are.
Premier Foods has created a company-wide marketing academy and innovation centre to drive its innovation and brand marketing strength across the business rather than within each brand division.
It has recently offloaded its Quorn business and is in negotiations to sell its canned food business in a bid to reduce the company’s debt.