Valeo Foods Group has offloaded its business in Ireland to a consortium led by a former executive.

The Dublin-based group, owned by Bain Capital, said the disposal was part of efforts to focus on “sweet treats”. The company has been steadily expanding in areas like biscuits and sweet bakery through M&A.

Valeo said Hilliard Lombard, who was the company’s MD in the late 2010s, headed the group that has snapped up assets. Financial terms were not disclosed.

Just Food has approached Lombard for comment.

The business changing hands includes brands such as Batchelors baked beans, Chef beetroot and Odlums flour.

Valeo’s Irish business has four manufacturing sites in Ireland, a logistics site in Dublin and an office in Northern Ireland.

In a statement, the company said the sale was “consistent” with a strategy to “optimise the portfolio” and “sharpen [its] focus on the ambition to be the sweet treats champion”.

Valeo pointed to its “significant investment in recent years” in areas such as honey, confectionery and sweet bakery products.

Last year, the company sold meat snacks producer New World Foods Europe to Irish meat processor Kepak.

Valeo added it “intends to maintain a close commercial relationship” with the Irish business after the completion of the deal.

That is set to include the distribution Valeo’s international brand portfolio in Ireland.

Lombard, whose career includes seven years as an executive at bakery giant Aryzta, has acquired a series of food assets through investment vehicle BiaVest.

Last year, Irish investment company Kerga, owned by BiaVest and Development Capital, another Ireland-based fund, acquired dairy- and coffee-drinks business Münsterland J Lülf.

In 2023, BiaVest bought 80% of German pasta company Riesa Nudeln.

Two years, the investor again teamed up with Development Capital to buy Ireland-based yogurt business Nomadic Dairy.