Premier Foods to acquire The Spice Tailor
Premier Foods is to acquire The Spice Tailor, the Indian and South East Asian meal kits and accompaniments brand, in a f £43.8 million deal.
The company said The Spice Tailor represents a strong geographical fit for Premier as it has a presence in the UK, Australian, Canadian and Irish markets. Its biggest markets are the UK and Australia which account for 58% and 35% of current annual sales respectively.
Following the acquisition, The Spice Tailor will benefit from increased levels of marketing investment, additional new product development resources, and access to Premier Foods’ commercial capabilities and retailer relationships.
Alex Whitehouse, chief executive of Premier Foods, 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 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.”
