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Valeo Foods to Expand With £66 Million Acquisition

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Valeo Foods to Expand With £66 Million Acquisition

Valeo Foods to Expand With £66 Million Acquisition
September 03
15:59 2019

Dublin-based Valeo Foods has agreed to acquire Campbell Soup Company’s European Chips Business for approximately £66 million ($80 million). Campbell’s European Chips Business includes UK-based Kettle Foods and Netherlands-based Yellow Chips. The transaction is expected to close in the first quarter of 2020.

Under the terms of the agreement, Campbell will retain the Kettle Brand business in the United States and all other geographies except for Europe and the Middle East.

Based in Norwich, England, Kettle Foods makes hand-cooked crisps, popcorn, rice snacks and vegetable-based chips. Its primary brands are KETTLE Chips and Metcalfe’s skinny popcorn. The sale also includes Netherlands-based Yellow Chips, a producer of high-quality vegetable and organic potato chips under private label snacks and its own premium brands, including Go Pure.

Commenting on the proposed transaction, Seamus Kearney, CEO of Valeo Foods, said: “The global snacking segment continues to grow and the proposed acquisition of Kettle Foods provides a great opportunity to further strengthen our expanding portfolio of international brands. This acquisition is consistent with our long-term goal of building a dynamic international portfolio of attractive, resilient and popular food brands that consumers love to enjoy.”

With operations in Ireland, the UK and Continental Europe and sales to approximately 90 countries, Valeo Foods is one of the fastest growing international ambient foods producers and distributors with annual sales of approximately €850 million. Valeo Foods owns a portfolio of popular consumer brands, many of them iconic household names in their markets, including Barratt, Rowse Honey, Fox’s Glacier Mints and XXX Mints, Jacob’s, Batchelors, Odlums, Shamrock, Kelkin, Robert Roberts, Pedro and Balconi. In total, Valeo Foods has 68 international brands.

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