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07/2022

THE SPICE TAILOR acquired by PREMIER FOODS

UNITED KINGDOM Food Processing / Food Products EV 20M - 50M GBP

Context

Premier Foods agreed to acquire 100% of The Spice Tailor shares on a cash-free, debt-free basis, marking a strategic bolt-on to its ethnic foods portfolio. Transaction facts highlight a full ownership transfer, funded via cash and committed facilities, with completion pending merger control clearance and structured earn-outs over three years tied to future sales performance. The strategic rationale resonates deeply with Premier Foods' growth playbook, leveraging its established branded growth model to amplify The Spice Tailor's momentum. Sector alignment is evident in the premium meal kits' synergy with Sharwood's and Loyd Grossman, both rooted in authentic accompaniments, while consumer shifts toward home cooking, premiumisation, and ethnic authenticity provide ideal timing. Post-deal objectives center on distribution expansion via Premier's retailer networks across the UK, Australia, Canada, and Ireland—particularly bolstering the acquirer's Australian footprint—and elevating marketing investment for heightened penetration.

THE SPICE TAILOR, which reported an EBITDA margin of LOGIN in 2022, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the AgriFood sector (10.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

The Spice Tailor, headquartered in the United Kingdom, specializes in premium, authentic Indian and South East Asian meal kits and accompaniments. The company offers a diverse portfolio including Indian curry kits, lentil daal kits, Asian curry kits, biryani kits, and Indian pastes, enabling consumers to prepare restaurant-quality meals at home with ease and authenticity. These products cater to food enthusiasts seeking convenient yet flavorful home cooking solutions, with vegetarian-friendly options across various cuisines. Founded by Adarsh and Anjum Sethia, The Spice Tailor has established itself as a high-growth player in the ethnic foods segment, demonstrating a compound annual growth rate exceeding 20% over the four years prior to 2022. This trajectory underscores its strong alignment with prevailing consumer trends toward premiumisation, authenticity, and convenient meal preparation. Moreover, its geographical presence spans key markets such as the UK, Australia, Canada, and Ireland, positioning it effectively within international retail channels.

Ent. Value

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Equity Value

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Multiples

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EV / EBITDA

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EV / EBIT

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Historical Financials (GBP)

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2022
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REFERENCES

Valuation range: EV 20M - 50M GBP

Revenue range: 5M - 25M GBP

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of THE SPICE TAILOR by PREMIER FOODS are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: the spice tailor