Valeo Foods may be about to add another brand to its rapidly-growing portfolio
Valeo Foods, the snacking and household food giant that owns brands such as Kelkin, Roma, Jacob's, Odlums and more, is in talks with UK producer Campbells to take over the Kettle snacking brand in the UK and Ireland.
Valeo Foods, the snacking and household food brand owner, is in talks to take over the UK company behind Kettle crisps, Metcalfe popcorn and more. The Irish Times reports that the value of the deal is an estimated £50m (€54m).
The talks between Valeo in Dublin and Campbells in the UK are understood to be at an advanced stage, and if the deal goes through it will bring Valeo’s acquisitions to more than a dozen since it was founded in 2010 with backing from investor and entrepreneur Seamus Fitzpatrick.
The Irish Times reports that Campbells decided to sell Kettle’s worldwide operation earlier this year in order to reduce costs – but that the Valeo deal is only related to Kettle within the UK and Ireland.
Valeo has closed several similar major deals in recent years, including last years €110m purchase of confectionery group Tangerine, whose brands including iconic sweet brands such as Refreshers and Fruit Salad. The group also purchased Val d’Enza, an Italian confectioner, and Rasio, a confectioner whose products include the XXX mint brand, for a combined €115 million cash.