Loading tweets...
Valeo Foods, the Irish food firm, has announced the acquisition of IDC Holding, an independent producer of wafers, biscuits, and confectionery in Central and Eastern Europe, for an undisclosed sum.
The acquisition is said to include the CandyPlus operation in the Czech Republic, the Balconi business in Italy, and the Schluckwerder business in Germany, which together employ around 1,150 staff. The company’s 2023 net sales were nearly €200 million.
Commenting on the move, Valeo Foods Group chief executive officer Ronald Kers said: “This is a transformative acquisition for Valeo Foods Group. The inclusion of I.D.C. Holding within Valeo Foods Group will enhance our industry position, drive further growth in our portfolio and international footprint and allow us to meet growing consumer demand in this segment”.
I.D.C. Holding owner Pavol Jakubec added: “I am very excited to transition the business to Valeo Foods Group, who have a great track record of acquiring and successfully growing businesses in this space and are the best partner to work with our employees and business partners to support I.D.C. Holding in further growth and expansion”.
The transaction is expected to be completed later in 2024, subject to customary closing conditions.
Source: Valeo Foods
