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CapVest Partners agreed to sell Valeo Foods, the manufacturer of Rowse honey, Kettle crisps and Jacob’s crackers,
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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.
Valeo Foods sale agreed by owner CapVest The sale of Valeo Foods – owner of brands including Kettle and Rowse – to Bain Capital Private Equity has been agreed by current owner CapVest for an undisclosed sum.
Rumours surrounding the potential sale of Valeo began to circulate in March this year. That was after it was reported that former Premier Foods chief executive Gavin Darby was working with private equity firm Cinven on an offer for the Dublin-based company.
Seamus Kearney, group chief executive of Valeo Foods, will continue to the lead the business with the existing management team under the terms of the announced deal.
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Eight Fifty Food Group, a company in the CapVest private equity portfolio, has agreed to acquire Carroll s Cuisine, the Tullamore-based ham maker, for an undisclosed sum.
The deal is the fourth for Eight Fifty since the pork-and-seafood company formed in 2019 with the merger of Northern Ireland s Karro Food Group and Young s Seafood, the UK s biggest specialist seafood brand.
Eight Fifty is buying the Co Offaly business from Carlyle Cardinal Ireland (CCI), a joint venture between Cardinal Capital and the Carlyle Group with a diverse portfolio of corporate and real estate interests. It follows the recent exit by CCI from AA Ireland.