Valeo Foods Group, the owner of brands such as Rowse honey, Kettle Crisps, and Jacob’s biscuits, has acquired IAG, a producer of tortilla snacks in the UK, including the Manomasa range of premium chips.
Valeo Foods is a portfolio company of CapVest Partners LLP, and IAG is the 17th acquisition made by the group since its formation in 2010.
Ambition
Commenting on the transaction, Seamus Kearney, CEO of Valeo Foods, said that the acquisition of IAG is consistent with the group's "ambition of creating a global food business with an exceptional portfolio of leading food brands and products".
The group's portfolio is sold in over 106 countries in the world and generates an annual revenue of over €1 billion.
The acquisition will see IAG become part of Valeo Foods’ Snacking Division, which will continue to employ staff at IAG's operations in Gateshead, England.
Managing director of IAG Calum Ryder said the acquisition increased the "future opportunities" available to IAG and its product range due to the international reach of Valeo Foods.
The IAG acquisition is preceded by a number of previous purchases by Valeo Foods, including Kettle Foods in 2019 and Tangerine Confectionery in 2018.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Conor Farrelly. Click subscribe to sign up to ESM: The European Supermarket Magazine.
