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Valeo Foods to acquire meat snack producer
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Uncovering legacy of city s baseball pioneer who broke racial barriers
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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.
By Edward Devlin2021-05-12T15:16:00+01:00
The popping of champagne corks must be a familiar sound at CapVest HQ – or at least it would be if offices were open – as the PE house continues to celebrate a quite incredible year.
However, it could be argued that despite the small matter of the mega-buyout by Bain Capital, nothing has really changed for Valeo.
The buy-and-build strategy that has served Seamus Kearney and co so well since bringing Batchelors and Origin Foods together in 2010 will roll on unabated.
If it ain’t broke, why fix it? Valeo has become an expert in snapping up undervalued business, identifying synergies and extracting maximum value to create a €1.1bn revenue group worth far more than the sum of its parts.
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