Diversified Irish food business Valeo Foods has announced the acquisition of New World Foods Europe (NWFE), a British meat snack producer.
Valeo Foods, which was recently acquired by Bain Capital Private Equity, owns brands such as Rowse honey, Kettle crisps, and Jacob’s biscuits.
NWFE has beeing selling products under the brands Kings, Wild West, Speyside and Cruga, as well as The Meatsnacks Group, since 2018. The company has a workforce of 120 employees at its two plants located in England and Scotland and its annual revenues are estimated at £25 million (€29.5 million).
Valeo Foods CEO Seamus Kearney said: “NWFE is a great addition to our expansive portfolio of leading food brands and is consistent with our ambitious growth strategy. The acquisition of NWFE adds a new and very strong dimension to our snacking business and we are very excited about the growth potential of NWFE’s portfolio of on-trend protein snacks and the opportunity to further develop the meat snacks category”.
NWFE managing director James Newitt commented: “We identified Valeo Foods as the perfect strategic fit to leverage further distribution opportunities in all channels, particularly International and Convenience as well as benefit from a more holistic and localised ownership. The team are excited, with the support of Ashley Hicks and the wider Valeo team, to accelerate our growth strategy which includes some exciting NPD”.
Sources: The Irish Times / FoodBev