Sales slumped 18.5% by value and 21% by volume in the 52 weeks to 23 January [IRI], with chilled products dropping 18.3% and frozen products slumping 61%. A spokeswoman blamed the decline on an "increasingly competitive market and Cauldron lacking differentiation". "As a brand we have focused too much on naturalness and health and not enough on the one thing that motivates everyone interested in good food taste," she added.
A refreshed product range, recipe improvements and new packaging would address the imbalance, she said.
Meanwhile, Premier Foods' market-leading meat-free brand Quorn has increased sales by 7% in the past year to hold a 60% share of the meat-free market.