Premier Foods recently announces it has agreed to acquire The Spice Tailor, a premium, authentic Indian and South East Asian meal kits and accompaniments brand.
Strategic highlights –
- A high-growth premium brand with a +20% compound annual growth rate over the last four years and forecast to deliver strong sales and profit growth over the coming years.
- Closely aligned to current consumer trends including convenient home cooking, premiumization, and authenticity.
- Highly complementary to the Group’s Sharwood’s and Loyd Grossman brands.
- Strong geographical fit with Premier Foods’ existing footprint, with a presence in the UK, Australian, Canadian and Irish markets.
- Will significantly expand the Group’s ethnic foods business in Australia.
- Delivery of further growth through leveraging Premier Foods’ well-established and proven branded growth model.
- The Group’s strong retailer partnerships present a clear opportunity to expand current retailer distribution across existing and new geographies.
Alex Whitehouse, chief executive officer, said, “We have greatly admired The Spice Tailor business for some time and we’re very much looking forward to it joining our existing stable of strong brands. The acquisition is well aligned with 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.”
Adarsh and Anjum Sethia, founders of The Spice Tailor, “We’re very pleased that The Spice Tailor will become part of Premier Foods and are looking forward to unlocking further growth for the brand which we have nurtured since its inception. We see Premier with their track record of brand investment and strong commercial relationships, as the perfect fit for The Spice Tailor, driving it onto the next stage of its evolution.”