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Acquisition of The Spice Tailor, accelerating branded growth strategy

Premier Foods today announces it has agreed to acquire The Spice Tailor (“The Spice Tailor”), a premium, authentic Indian and South East Asian meal kits and accompaniments brand.

Strategic Highlights:

  • A high growth premium brand with +20% compound annual growth rate1 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, premiumisation 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


25/07/2022

This morning we released our Quarter 1 Trading Update for the thirt...

Headlines:

  • Q1 Group sales up 6.3% versus two years ago - at top end of Group’s expectations, Branded sales up 9.3%
  • As expected, sales versus prior year lapping exceptional circumstances of first lockdown
  • Grocery excluding out of home channels up 13% compared to two years ago
  • Strong International performance, building on successful prior year, up 17% on two year basis
  • Sales from strategy of expanding into new categories already delivered over £6m in last 12 months
  • Full year adjusted profit before tax now expected to be at top end of Group expectations


20/07/2022

Premier Foods Introduces Paid Leave as Part Of Transgender And Meno...

Premier Foods, one of the UK’s leading food businesses and home to some of the nation’s best loved brands, has launched two new modern working policies designed to support its office-based and manufacturing colleagues going through life-changing events.



20/06/2022

We've released our Preliminary results for the 52 weeks ending 2 Ap...

Headlines:
 

  • Trading profit, Adjusted PBT and earnings per share ahead of previously raised expectations, dividend up +20%
  • Strong branded growth driving volume and value market share gains in both Grocery and Sweet Treats
  • Successfully navigating macro and industry wide supply chain challenges and continued inflationary environment
  • Trading profit margin increased 60 basis points to 16.5%, leveraging operational efficiencies
  • International revenue up +25% vs two years ago; strong growth on Sharwood’s and Mr Kipling
  • Interest costs halved in last two years, reflecting strength of strategic progress and debt refinancing
  • Pensions merger now delivering through c.£60m reduction in NPV of cash contributions
  • New ESG strategy, the ‘Enriching Life Plan’, announced with a series of major sustainability commitments
  • Expectations for further good progress in FY22/23 unchanged


18/05/2022

Premier Foods delivers against ESG strategy with launch of new heal...

Premier Foods, one of the UK’s largest food manufacturers and home to some of the nation’s best loved brands, has launched Mr Kipling Deliciously Good - a new, better-for-you range of Mr Kipling cakes and pies, delivering both a healthier and great tasting product.

25/04/2022

Premier Foods receives global recognition for animal welfare improv...

Company behind Mr Kipling cakes and Ambrosia custard earns top tier status in animal welfare assessment
 

16/03/2022

Statement RE Ukraine

We are deeply shocked and saddened by what is happening in Ukraine. Our thoughts are with all those who are impacted by this ongoing conflict.  

14/03/2022

This morning we released our Quarter 3 Trading Update for the thirt...

Headlines:
 

  • Q3 trading ahead of expectations, Group sales up 7.0% vs 2yrs ago and up 7.3% YTD
  • Q3 Branded sales ahead 11.3% vs 2yrs ago
  • Significantly outperforming the market; gaining 90 basis points of value share in Q3
  • Mr Kipling’s biggest ever Christmas
  • International sales increased +33% compared to 2yrs ago
  • Upgrading FY21/22 profit expectations; Trading profit at least £145m this year


20/01/2022

This morning we released our Half year results for the 26 weeks end...

Headlines:

Compared to 2 years ago  

  • Q2 Group revenue up +8.5%, Q2 branded revenue ahead +13.3%  
  • H1 Branded revenue up +11.4% reflecting strength of Group’s branded growth model  
  • Trading profit +13.1% ahead
  • Adjusted profit before tax £46.4m, up +46.3% due to trading performance and significant interest cost savings  
  • Statutory profit before tax £30.7m, up +104.7%  
  • Net debt substantially lower than FY19/20 H1 at £345.0m  

Compared to 1 year ago  
  • Q2 Group revenue up +0.4%, Q2 branded revenue ahead +2.1%  
  • H1 Branded revenue (6.1%) lower than prior year due to lapping effect of exceptional pandemic related volumes  
  • Statutory profit before tax down (39.2%); Hovis disposal gain in prior year  
  • Net debt £58.1m lower than FY20/21 H1  
  • Combined pensions surplus of £607.7m, £67.8m higher than six months earlier 


16/11/2021

Premier Foods launches new “Enriching Life Plan” with goal of tripl...

Premier Foods, one of the UK’s largest food manufacturers and home to some of the nation’s best loved brands including Bisto, Oxo and Sharwood's, has today set out its strategy to support healthier, more sustainable lifestyles and contribute to a healthier planet and society. 

29/10/2021