Dingwall-based company Fuel10K acquired for £34million by owner of Mr Kipling

A Dingwall-based business has been acquired for £34million.

Premier Foods has announced the acquisition of FUEL10K, a breakfast brand, with a portfolio of granola, oats and drinks products.

The Mr Kipling and Bisto sauce owner said it would spend £29.6million upfront from its cash reserves and at least another £4 million on the business in the 2026/27 financial year.

Alex Whitehouse, chief executive at Premier Foods 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. Possessing a differentiated category position, with its protein enriched product range and appealing to a younger demographic, we expect to deliver significant further profitable growth of FUEL10K through the deployment of our successful branded growth model."

Fuel10K was founded in 2012 and is a B Corp company that makes “protein-enriched” food and drinks and is stocked in stores such as Tesco and Sainsbury's.

Barney Mauleverer, co-founder, FUEL10K added:"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."

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