Irish food manufacturer and distributor Boyne Valley Group has purchased the Irish brands of Premier Foods. The food giant now owns the Chivers, Erin, Gateaux and McDonnells brands in a deal worth around 41 million euros.
The privately-owned business was founded by entrepreneur Malachy McCloskey in County Louth, Ireland. Other food products in Boyne Valley's portfolio include honey, olive oil, condiments, peanut butter, home baking and household products. The acquisition was led by Boyne Valley CEO John Harkin; advisors included David O'Flanaghan of Deloitte Corporate Finance and Byran Bourke of William Fry. “We are pleased to be acquiring these strong and well established Irish brands with a loyal customer base,” said John Harkin, CEO of The Boyne Valley Group. “With additional investment, we believe we can grow these brands further. They fit well within our existing food portfolio which includes olive oil, relishes, home-baking and honey.”
Premier Foods is Britain's largest food group. (19 Dec)
© 2011 ESM: European Supermarket Magazine
