In its recent annual report update as of April 2022, food manufacturer Premier Foods reported continued strong operational performance and increased its profit guidance for the full year. Revenues decreased by 3.5% but the annualised growth stands at 4% over the years as the company continues to win market share with its iconic brands (Mr Kipling, Bisto and Homepride to name a few).
On 25 July 2022, the company acquired The Spice Tailor, a premium authentic Indian and South East Asian recipe kit maker for £43m. The brand will be complementary to the Group’s Sharwood’s and Lloyd Grossman brands and will benefit from Premier’s wide distribution network.
CEO Alex Whitehouse has done a fantastic job since taking the helm and if the market fails to value the company properly, it may well fall into the hands of private equity.