Premier Foods, one of the UK’s largest food manufacturers, has agreed to acquire The Spice Tailor, an Indian and South East Asian meal kits and accompaniments brand.
According to a statement by Premier Foods, the manufacturer, who currently operates the Sharwood’s and Loyd Grossman brands, was drawn to the meal kit company by its “high growth premium brand”, with a forecast to deliver strong sales and profit growth over the coming years.
Premier Foods also views the deal as a means of expanding its portfolio in the areas of convenient home cooking and developing the Group’s ethnic foods business in Australia.
The Spice Tailor’s presence in the UK, Australian, Canadian and Irish markets was also desirable for the manufacturer as it presents a “strong geographical fit with Premier Foods’ existing footprint.”
Room for growth
Chief executive officer of Premier Foods Alex Whitehouse said that the company viewed the acquisition as “another important milestone” following a few years of strong performance.
He explained: “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.”
A perfect fit
Commenting on the deal, founders of The Spice Tailor Adarsh and Anjum Sethia said: “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.”
