RHM owns many household brands

The UK food group said it will sell its shares between 228p and 285p, valuing it in the range of �875m to �975m - lower than previously expected.

RHM said last month that part of the money raised would be used to pay off part of its pension fund deficit.

Its owner, private equity group Doughty Hanson, will keep a stake of about 33%.

Famous names

RHM said 185.2 million new shares will be sold in the offer, and 45.4 million existing shares.

The company says that 98% of UK households contain at least one of its products.

Its other brands include Bisto gravy, Sharwoods, Saxa Salt, Paxo stuffing, Robertsons jams and McDougals flour.

RHM also provides own-label products for major supermarket chains including Asda, Tesco and Waitrose, and retailer Marks & Spencer.

The firm, which employs more than 16,000 people across the UK, recently announced a 28% rise annual profits to �155m on sales of �1.53bn.