Acquisition of Merchant Gourmet
Premier Foods today announces it has agreed to acquire Merchant Gourmet, a premium, healthy, convenient meals brand, as the Group continues to deliver against its growth strategy of acquiring brands where it can add value and deliver further growth.
Strategic highlights & opportunities
- Premium and healthy branded ready-to-eat pulses and grains, microwaveable rice and meals in minutes
- Market leading positions in pulses and grains, with a strong track record of profitable sales growth
- Broad consumer base, exceptionally strong repeat rates and established track record of new category expansion
- Highly complementary to Premier Foods’ portfolio and aligned to the Group’s acquisition strategy
- Group expects to unlock significant value through leveraging its proven branded growth model
Alex Whitehouse, Chief Executive Officer
“We’re very pleased to have agreed the acquisition of Merchant Gourmet, which meets the growing demand for premium, healthy and convenient meal options. Replicating the success of our previous two acquisitions, The Spice Tailor and FUEL10K, we will be deploying our proven branded growth model; expanding retailer distribution, accelerating new product development, and increasing marketing investment to unlock further profitable growth for the brand. Merchant Gourmet expands our category presence, complementing our already strong brand portfolio, and we look forward to welcoming the team to Premier Foods.”
Richard Peake, Managing Director, Merchant Gourmet
“Merchant Gourmet has always been about creating great-tasting, premium, healthy food that anyone can enjoy. Over the last few years, our team have worked incredibly hard, delivering double digit revenue growth and demonstrating huge success in entering new categories and new markets. Finding the best home for both Merchant Gourmet and our valued team is something we have thought carefully about, and we believe Premier Foods is the right partner to match our ambition. They understand where we’ve come from, they respect what makes our brand special, and we’re excited to continue innovating boldly and inspiring people to fall in love with simple, good food.”
To read and download the full RNS announcement, please click this link