Valeo Foods has bought German confectionery group Schluckwerder, bringing the Irish company’s annual revenues to more than €1.2bn.
It is the second acquisition by Valeo in less than a month and its 18th since the company was founded 11 years ago.
Valeo Foods was established in Ireland in 2010 as a portfolio business of CapVest Partners. It has expanded since then and now owns a range of high-profile brands such as Kettle crisps, Batchelors, Kelkin and Rowse.
Schluckwerder operates three production facilities in northern Germany. Retailers including Lidl, Aldi and Netto form a core part of its business. More than 25pc of its products are sold outside Germany.