By Edward Devlin2021-01-28T08:41:00+00:00
The owner of grocery brands including Kettle crisps and Rowse honey is to launch an auction that could fetch more than £1.5bn and cement its status as one of Europe’s biggest privately owned food producers, according to Sky News. Valeo Foods’ owner CapVest has appointed Goldman Sachs to oversee a sale of the company in the coming months.
Pepco, the European discount chain that owns Poundland, has reported resilient sales growth in its most important trading quarter to the end of December as its owner restarted the process of selling it off (The Financial Times £).
Valeo Foods buys Lübecker marzipan owner By Anthony Myers Dublin-based Valeo Foods Group has agreed a deal to buy German confectioner Schluckwerder Holding, in a bid to further consolidate its position as a major international food business across the UK, Continental Europe and Ireland.
Following the deal with the current owners, German private equity firm Novum Capital, Valeo Foods said its annual revenues will increase to approximately €1.2bn ($1.46bn).
Established in Ireland in 2010, Valeo Foods’ acquisition-led growth includes Kettle crisps, Rowse honey and Jacob s biscuits in its portfolio, along with Tangerine Confectionery and Big Bear Confectionery.
Schluckwerder was founded in 1956 and produces the 175-year-old Lübecker marzipan brands Erasmi and Carstens, which have been protected under EU geographic designation status since 1996 - and are produced using higher quality standards than other ma
By Alec Mattinson2021-01-12T10:05:00+00:00
Valeo Foods has bolstered its confectionery business with the acquisition of German marzipan and chocolate producer Schluckwerder.
The CapVest-owned food group has acquired Schluckwerder, maker of the 175-year-old ‘Lübecker marzipan’ brands Erasmi and Carstens, from mid-market private equity firm Novum Capital.
Schluckwerder marzipan products are “produced using higher quality standards than other marzipan-based products” and have been distinguished by EU protected geographic designation status since 1996.
The company also produces nougat, chocolate rings, fondant, crocante and praline treats popular with consumers across Germany. Additionally, Schluckwerder operates a private label business and counts leading German and international retailers among its customers.
Valeo Foods confectionery deal to boost sales to €1.2bn Valeo Foods Group has acquired German confectionery manufacturer Schluckwerder Holding in a deal expected to boost the Irish manufacturer’s sales to €1.2bn (£1.07bn).
The acquisition included three production facilities in Lübeck and Adendorf that employ 480 people, bringing Valeo Foods’ total workforce to 4,500.
Following the purchase of Schluckwerder, revenues at Valeo’s European business unit would increase to an estimated €283m (£252.9m), the company claimed. Its UK business unit has revenues of more than €583m (£521m) with a further €319m (£285m) generated in Ireland.
Traditional confectionery
Established in 1956, Schluckwerder produces the 175-year-old Lübecker marzipan brands Erasmi and Carstens, which are protected under the EU geographic designation status.
Updated / Tuesday, 22 Dec 2020
16:39
The Group s products are sold in over 106 countries around the world.
The Irish-based Valeo Foods - which owns brands such as Jacob s, Batchelors, and Kelkin, has acquired IAG (It s All Good), a producer of tortilla snacks in the UK.
IAG has an annual turnover of approximately £37 million.
Since its formation in 2010, Valeo Foods, a portfolio company of CapVest Partners LLP, has expanded rapidly.
IAG marks its 17th acquisition, creating a major international food business across the UK, Ireland and Continental Europe, generating annual revenues of over €1 billion.
The Group’s products are sold in over 106 countries around the world, with the UK Valeo Foods’ biggest market, accounting for just over half of current revenues.