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December 22, 2020updated 09 Apr 2021 6:51am

Valeo Foods bags UK snack maker It’s All Good

Ireland's Valeo Foods, the group owned by CapVest Partners, is back on the acquisition trail with a UK snacks deal.

By Dean Best

Ireland’s Valeo Foods, the group owned by CapVest Partners, is back on the acquisition trail with a deal for UK snack maker It’s All Good (IAG).

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Headquartered in the north east English town of Gateshead, where it operates two facilities, IAG owns the Manomasa brand of tortilla chips and also manufactures private-label tortilla chips, pitta chips, flat breads and rice cakes for UK retailers.

Financial terms for the GBP37m (US$49.4m) turnover business, founded in 2012 by Calum Ryder, were not disclosed in a statement from Valeo Foods, which was formed in 2010 by London-based CapVest.

Since that deal, the private-equity firm has built up a catalogue of food companies, including UK-based Tangerine Confectionery and Italian cake and biscuit maker Balconi Industria Dolciaria. 

And last year, Valeo Foods snapped up the European snack assets then owned by Campbell Soup Co., including UK-based Kettle Foods and Netherlands-based Yellow Chips, and it also bought Matthew Walker Christmas puddings from 2 Sisters Food Group. 

Seamus Kearney, group CEO of Valeo Foods, said: “The acquisition of IAG is consistent with our ambition of creating a global food business with an exceptional portfolio of leading food brands and products in attractive categories. 

“We are very excited about the potential of IAG’s portfolio of private label and branded products and the opportunity to expand our presence in snacking, where we already have fantastic brands and category leaders like Kettle crisps and Metcalfe’s popcorn. We want to remain at the forefront of consolidation in the ambient food sector in Europe and we will continue to seek out further exciting opportunities for growth.” 

Valeo Foods noted the IAG deal is the 17th since the business was created in 2010, making the company and its investor owners a EUR1bn (US$1.2bn) food business across the UK, Ireland and Continental Europe. 

IAG, which employs 265 people, will become part of Valeo Foods’ snacking division housing Kettle Foods, Tangerine Confectionery and Big Bear, another UK confectionery business acquired in 2017. 

Its managing director Ryder said: “Valeo Foods is a great partner for our business. They understand the value of brands and have developed a formidable international growth platform that will significantly increase the future opportunities for our brands and our people.”  

Related Companies

Free Whitepaper
img

What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.

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