The review, which is being handled by the AAR, will see two unnamed agencies pitch against CHI. The agencies have been asked to present ideas for a new TV campaign.
CHI has already submitted a creative treatment into research, which is expected to continue the use of Grossman himself to front the brand.
The review is understood to have been triggered by a disagreement between the agency and client over the creative direction for the brand.
Premier Foods was one of CHI's founding clients when the agency launched in 2001. The Loyd Grossman range was among the first briefs the agency picked up.
CHI's most recent work for the brand is a press and poster campaign, which broke at the beginning of the year, to support the launch of a new soup range. The ads carry the line: "The taste is in the detail."
The last TV campaign for the Loyd Grossman cooking sauces, developed by its former agency, Comms Plus, featured Grossman interfering with a friend's cooking, until she asks him to take over.
CHI continues to remain on Premier Foods' roster for brands such as Rowntree's Jelly and Smash instant potato. It has recently produced a TV campaign for Typhoo, which aims to build on the tea brand's position as the first drink of the day.
No-one at Premier Foods was available to comment.