07/2022100%

The Spice Tailor acquired by Premier Foods

UNITED KINGDOM Food Processing / Food Products EV £20–50M

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 [members only] in 2022, is valued in this transaction at an EV/EBITDA multiple of [members only].

-> Deep-dive in AgriFood market trends

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

£20–50M

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (GBP)

Year

Rev

EBITDA

EBIT

2022

2021

Other operations with Premier Foods

Other operations with Premier Foods
Date	Acquirer	Target	Country	Sector
08/2025	PREMIER FOODS	MERCHANT GOURMET	UNITED KINGDOM	Food Products

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REFERENCES

Valuation range: EV £20–50M

Revenue range: £5–25M

EV/Revenue range: 2x - 6x

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: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: the spice tailor

FAQ

What transaction does this page cover?

This page covers Premier Foods’s acquisition of 100% of The Spice Tailor, a British company specialised in Food Products, in 2022.

How was the acquisition of The Spice Tailor by Premier Foods valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the £20–50M band and its EV/revenue multiple within the 2x - 6x range. Exact figures are available to members.

What was The Spice Tailor’s revenue at the time of the deal?

At the time of the transaction, The Spice Tailor’s annual revenue was estimated within the £5–25M range (FY 2022). Detailed financial figures are available to members.

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

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