latter had increased by 24% in 2007 alone; by 2008, for every two loaves of Hovis sold in the UK, Warburtons sold three. The continuing failure of the brand began to affect Premier Foods as a whole, with the company's share price dropping from £3.50 to £1.80 in the 18 months following the acquisition. Despite this, Hovis was still a valuable brand. Its reported profits, while declining, still amounted to £387m, making it the fourth largest grocery brand in the UK, behind Coca-Cola, Warburtons, and Walkers Crisps. Premier Foods hired a new head of marketing, Jon Goldstone, known for a strong branding background at Procter & Gamble. Goldstone quickly identified the issue facing Hovis, surmising that "[Hovis] had got into a situation where Warburtons was synonymous with healthier bread from real bakeries and Kingsmill had cornered the value end of the market. We were being squeezed and were falling fast." Goldstone's solution was to re-launch the brand, changing the formula of the bread, redesigning the packaging, and putting £15m into a new advertising campaign. To this end, Premier Foods consolidated its marketing across all brands into two advertising agencies, Miles Calcraft Briginshaw Duffy (MCBD) and McCann Erickson, with the latter originally taking on Hovis. But the CEO Helen Calcraft and Account Director Muna Nageh stayed close to the Hovis client and eventually had a chance to win the account out of McCann Erickson, who had failed to crack the brief whilst MCBD had been doing well on the brands they had won. The relaunch was the first campaign by MCBD for the brand, though it had done work on other Premier Foods labels such as Branston, Batchelors and OXO previously. Production In April 2008, Goldstone met with the creative director of MCBD, Danny Brooke-Taylor, to discuss the advertising campaign which was to accompany the relaunch. The two reviewed previous Hovis advertising for ideas, paying particular attention to the 1973 television advertisement Boy On Bike. Directed by Ridley Scott, Boy On Bike was an iconic piece of British culture; in a 2003 poll, over 60% of British people over 40 years old could still hum the theme used in the commercial ("New World Symphony by Dvorak), and in 2006 it was voted the greatest advertising campaign of all time by the public. From this, the campaign's theme was established: nostalgia. A pitch was put together by creative team Gavin Horrance and