Premier Foods has this morning announced that it has acquired FUEL10K, a vibrant Breakfast brand, with a portfolio of granola, oats and drinks. The press release is attached.
This is Premier Foods’ second acquisition in just over a year and builds on the growth of The Spice Tailor since 2022. The acquisition forms part of the Group’s growth strategy, through which it looks to create value by expanding into food categories which sit alongside Premier Foods’ existing portfolio of brands.
FUEL10K is Premier’s second significant step into the Breakfast category, following the successful launch of Ambrosia porridge pots last year. FUEL10K has a track record of strong, double-digit, revenue growth over the last three years, and its products appeal to a predominantly young consumer demographic.
Commenting on the acquisition, Premier Foods CEO, Alex Whitehouse, said: “The acquisition of FUEL10K follows on from our successful integration of The Spice Tailor, where we have increased revenue and profit through the application of our branded growth model. FUEL10K provides us with an ideal platform to accelerate our expansion into the Breakfast category, building on our recent successful launch of Ambrosia porridge pots.”
Barney Mauleverer, co-founder, FUEL10K, said: “We are very excited to be passing the reigns on to the owner of such a great stable of UK brands. Having built the foundations from start-up, the FUEL10K brand is now primed to accelerate into the future and achieve even more great things. I could not think of a better custodian of our brand than Premier Foods to entrust what we have begun and make the most of such a great opportunity.”
