By Edward Devlin2021-06-01T09:43:00+01:00
The takeover will see Burton’s and Fox’s finally under the same ownership
Ferrero has swooped for Burton’s Biscuits in a deal that finally brings together Fox’s and the Jammie Dodgers maker.
The acquisition – for an undisclosed price – adds to the Italian confectionery giant’s growing biscuits empire following the takeover of Fox’s in 2020, Belgian brand Delacre in 2016 and Danish manufacturer Kelsen in 2019.
All of these biscuit deals, including Burton’s, took place outside of the main Ferrero group and were struck by Giovanni Ferrero’s Belgium-based family holding office CTH.
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By Edward Devlin2021-05-13T12:58:00+01:00
Former Burton’s CEO Ben Clarke is working with Bain on an offer for the Wagon Wheels and Jammie Dodgers maker
PE giant Bain Capital is eyeing a takeover of Burton’s Biscuits as it seeks to double down on the UK ambient food industry following its buyout of Valeo Foods Group this week.
The Boston-based investor is among the final suitors for the UK’s second-largest biscuit manufacturer as the auction run by investment bank Stamford Partners races towards a conclusion, The Grocer has learned.
Former Burton’s CEO Ben Clarke is working with Bain, which has more than $130bn in assets under management, on an offer for the Wagon Wheels and Jammie Dodgers maker.
Valeo Foods and Confectionery acquired by Bain Capital By Anthony Myers Bain Capital Private Equity, a leading global private investment firm, announced it has signed a definitive agreement with CapVest to acquire European ambient foods company Valeo Foods.
Valeo Foods Group, which includes British classic confectionery brands Barratt, Fox s, Poppets and XXX Strong Mints in its portfolio, has been sold, subject to approval, to Bain Capital Private Equity.
Established in 2010 and headquartered in Dublin, Ireland, Valeo’s portfolio also includes iconic brands like Jacobs, Rowse, Kettle, Odlums, and Balconi, many of which have histories that stretch back as far as 150 years.
Valeo Foods under new ownership
Kettle Crisps and Jacobs biscuits owner Valeo Foods Group has been acquired by US private-equity firm Bain Capital for an undisclosed sum.
Bain, has bought the Ireland-based business, which also counts Rowse honey and Balconi cakes among its brands, from fellow investment firm CapVest.
Seamus Kearney, the group CEO of Valeo, will continue to lead the business with the existing management team under the new owners.
He said: This transaction is a very positive reflection of the quality of our business and all of our people. It is also testament to the passion and commitment CapVest, our management team and all of our colleagues have shown in continuously delivering best-in-class food products to our customers and consumers across our 106 markets. Bain Capital s deep knowledge and heritage in innovation and investment in the food and grocery sectors means this is great news for our business and our people.