UK food manufacturer Premier Foods Plc has announced the acquisition of 100% of The Spice Tailor’s shares for initial consideration of £43.8 million ($52.4 million).
According to a statement released by Premier Foods, The Spice Tailor – a premium, Indian and South East Asian meal kits and accompaniments brand – will benefit from increased levels of marketing investment to drive product awareness and household penetration, new product development resources, and access to Premier Foods’ commercial capabilities and strong retailer relationships.
Alex Whitehouse, Premier Foods CEO, said: “The acquisition is well aligned to our growth strategy, and we see a clear opportunity to build on the excellent track record of The Spice Tailor, by leveraging the elements of our proven branded growth model. This acquisition represents a highly complementary geographical fit, and we see significant potential to expand The Spice Tailor’s distribution in all our target markets. We see this as another important milestone for us following the Group’s strong performance over recent years and The Spice Tailor is an important addition to accelerate our future growth plans”.
Premier Foods is one of the UK’s largest food businesses, its portfolio includes brands like Ambrosia, Batchelors, Bisto, and Loyd Grossman.
Sources: Premier Foods