The complete-nutrition brand was acquired by UK-headquartered Premier Foods, owner of Mr Kipling and Bird’s Custard, last year for £34m to bolster its breakfast offering.
Since the acquisition, with the organisational integration now complete, Premier has driven Fuel10K’s revenues up 30% along with its market share gains up 130bps.
How much did Premier pay for Fuel10K?
Earlier this month, the brand announced its second foray – but first under Premier – into direct-to-consumer (DTC) through a partnership with THG Commerce. It first launched into DTC in 2019 when its The Complete Meal shake was made available on its website.
However, since its buyout from Fuel10K co-founder Barney Mauleverer, who has since launched a Future of Food event to “transform the food innovation landscape”, Premier Foods has charged its DTC partner with further growing the brand’s reach.
Along with its DTC strategy, Premier Foods has launched a series of Fuel10K instore activations and NPD based on successes with other Premier products, such as its Ambrosia brand. This includes its Fuel10K Granola pots, as well as its on-the-go protein shakes and meal solutions, aimed at competing with meal replacement brand Huel.
“Fuel10K makes fuel for busy people and the nutritionally complete products are a great addition to the range, expanding the brand’s relevance beyond breakfast,” Premier Foods innovation director, Sam Vince, told FoodNavigator. “These products fill a gap in a growing market by providing complete nutrition products.
Premier Foods’ Fuel10K innovation boost
“Existing customers for complete nutrition products are used to buying them direct, so it made sense to go where the consumers are,” Vince continued. “Being able to get them delivered in bulk direct to your home adds convenience, and the new DTC website also enables us to offer consumers access to other Fuel10K products.”
THG would provide complete end-to-end digital commercial support for Premier Foods, with the aim of delivering a high-value customer experience, as well as an “agile fulfilment network”, said THG.
“We’re excited to be expanding the range of products on offer and to be taking them direct to shoppers,” said Vince.
