Granola manufacturer Rollagranola is aiming to return upmarket breakfast brand Primrose’s Kitchen to supermarket shelves after rescuing it from liquidation.
The subject of a buyout in 2019, Primrose’s was owned by PK Ventures, an investment vehicle backed by Ben Elliot, the Tory party co-chairman and the first government food waste tsar, and run by former Cadbury Schweppes executive Matt Baker, Andrew Baker and Simon Baldry.
Its range of handmade organic, plant-based and gluten-free mueslis, granolas and porridge were stocked by Waitrose, Ocado, Whole Foods Market and Holland & Barrett, and PK Ventures said at the time it aimed to grow revenues to £5m within five years and widen distribution into the major mults.
However, Dorset-based Primrose’s – launched by Primrose Matheson in 2014 – appointed liquidators from insolvency practitioner Moorfields after failing to sustain sales growth and struggling with cashflow.
Documents filed at Companies House showed Primrose’s owed unsecured creditors more than £700,000 when it collapsed, with trade creditors out of pocket by in excess of £120,000 and the shareholders and directors by a combined £582,000.
Rollagranola purchased the existing stock and intellectual property in the rescue deal and has invested in a brand refresh and the launch of two new granolas: orange & cashew and chocolate & CBD.
It will now focus on re-engaging with the Primroses’ Kitchen customer base, with plans for a marketing campaign to advertise the relaunch of the brand.
Longer term, the team will work with fine food wholesale distributors Cotswold Fayre, Suma Wholefoods, The Health Food Store, Infinity and CLF to re-establish a presence for Primrose’s Kitchen on the shelves of independent health food stores, supermarkets and retailers across the UK.
Rollagranola founder Robin Longden said the deal followed a record year for the handmade granola business across retail, wholesale and own label.
“Our intention isnn’t to change the direction of the brand,” he added. “Moreover, we wanted to make the current formulas the absolute best they could be by doubling the veg, bringing in magnesium-rich tiger nuts and increasing the pack size to 400g
“We are committed to using our broad breakfast cereal expertise to put the brand on shelf in all major outlets.”
Longden said the introduction of NPD would complement the existing Primrose’s Kitchen range.
“We bought Primrose’s Kitchen because we love its values and ethos. The product is distinct, healthy and tasty, with a focus on quality – chiming perfectly with our ability to get brilliant healthy food into the bowls of the British public.”
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