Premier Foods plc (LSE:PFD) agreed to acquire The Spice Tailor Limited for ú72.5 million on July 25, 2022. Total consideration includes Initial payment of ú43.8m on a cash free and debt free basis. Additional consideration above the initial consideration of ú43.8 million is structured over a three-year timeframe from year ending 30 March 2024, dependent on future sales growth and subject to a maximum capital of total consideration (comprising initial consideration and additional consideration) of ú72.5 million.

For year ended 31 March 2021, The Spice Tailor reported Gross Assets were ú4.6 million. Completion is subject to merger control clearance. Dentons Europe CS LLP acted as legal advisor to Premier Foods plc (LSE:PFD).

Arrowpoint Advisory LLP served as financial advisor to Premier Foods plc. Piper Sandler & Co. acted as financial advisor to The Spice Tailor Limited.

Khaitan & Co. acted as legal advisor to Premier Foods plc in the transaction.