Valeo Foods Expands Confectionery Portfolio in €100 Million Deal
Valeo Foods Group has acquired the Confectionery Division of Raisio which includes a portfolio of established, iconic and growing confectionery brands such as Fox’s Glacier Mints, XXX Mints, Poppets, and Pedro. The acquisition of these food businesses, which employ over 1,000 people, is consistent with Valeo Foods’ strategic focus and offers significant opportunities for future growth.
The acquired businesses operate six production facilities between the UK and the Czech Republic, and in addition to the consumer brands, have significant and growing private label, contract manufacturing and food ingredient operations. These service an established customer base across most European markets, Asia, Australasia and North America that includes many leading global food manufacturers and grocery retailers. In January-September 2017, net sales for Raisio’s confectionery business totalled €71.3 million and EBIT was €6.4 million. The deal has an enterprise value of €100 million
Valio Foods was formed in 2010, following the acquisition and merger of Origin Foods and Batchelors, two of Ireland’s most successful branded consumer food companies. Since then, Valeo Foods has successfully completed multiple acquisitions across Ireland, the UK and Continental Europe, to expand its portfolio of market leading products and brands that includes Jacob’s, Rowse and Balconi.
