The acquisition will provide The Spice Tailor with greater scope for expanding its geographic reach and enhancing its products
The Spice Tailor, which produces spice kits and ingredients for cooking South Asian dishes at home, has been acquired by Premier Foods in a deal worth nearly £44m. Founded by chef and TV personality Anjum Anand back in 2010, The Spice Tailor’s popularity has skyrocketed since the first lockdown, where people across the UK took a markedly greater interest in home cooking.
Premier Foods, the British food giant which owns household name brands such as Bisto and Lloyd Grossman, will buy 100% of the share capital of The Spice Tailor.
Alex Whitehouse, the chief executive at Premier Foods, commented: "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."
Premier Foods hopes to create synergies with the acquisition, taking the popularity and appeal of The Spice Tailor and enhancing it with Premier’s geographical reach and capacity for extra marketing and product development.
"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," Mr Whitehouse continued. "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."