Latest Kettle News
Dec 22, 2020
Irish consumer food group Valeo Foods is set to cross the €1bn sales barrier with the acquisition of snack company It's All Good (IAG), the leading producer of tortilla chips in the UK. IAG will add about £37m in annual turnover to Valeo's snacking division, which is already the home of the popular Kettle crisps. The deal is Valeo's 17th acquisition since it was created in 2010 through the acquisition and merger of Origin Foods and Batchelors by CapVest Parterns, a mid-cap private equity group. The company has quadrupled in size since then by adding and integrating companies at a rapid clip, as well as launching new brands, in a bid to become a major force in European consumer foods. Read More "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," said Valeo CEO Seamus Kearney. "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." The IAG deal follows 2019's acquisitions of Kettle Foods, the UK-based premium snack maker, and Mathew Walker, a seasonal dessert maker. The same year Valeo sold Nimbus Foods, a non-core business that manufactured toppings and food decorations. The company now controls a portfolio of dozens of leading food brands, including Odlums, Shamrock, Roma, Erin and Kelkin, selling hundreds of products. Valeo operates in more than 100 markets around the world and sells 600m units annually. More than half the company's revenue comes from the UK, with the rest coming mostly from Ireland and continental Europe.