Premier Foods plc (LSE:PFD) acquired 100% stake in Fuel 10K Ltd for £34.0 million on October 29, 2023. As per the agreement Initial consideration of £29.6 million funded through available cash reserves and a minimum further deferred consideration of £4.0million will be payable in FY26/27, with any increment to this dependent upon certain growth targets. The transaction is on cash and debt free basis. Additional consideration above the Enterprise value of £34.0m is dependent on future sales growth to FY25/26 and subject to a maximum cap of total consideration (comprising initial consideration and additional consideration) of £55.0 million. Fuel 10K Ltd as at 31 March, 2023, gross assets were £5.1 million. Damian Thornton, Simon Milne and James Rogers of Piper Sandler Ltd. acted as financial advisor to FUEL10K.

Premier Foods plc (LSE:PFD) completed the acquisition of 100% stake in Fuel 10K Ltd on October 29, 2023. Neil Nicholson and Lorna McCaa of Dentons Europe (London) Limited acted as legal advisor to Premier Foods plc.