Valeo, the Irish food firm, is to acquired the UK puddings business Bakery Foods, trading as Matthew Walker, from the UK food giant 2 Sisters in a deal worth £67 million ($85 million), according to a FoodBev report.
Based in Derbyshire where it operates a factory employing 200 staff, Matthew Walker produces Christmas puddings, sponge puddings and other traditional British desserts under its namesake brand for both retail and foodservice channels. The acquisition will reportedly increase Valeo Foods’ annual revenue by around €40 million ($44 million).
Commenting on the acquisition, Valeo Foods UK managing director Ian Ainsworth said: “The strength of Matthew Walker’s market leadership combined with the strong consumer demand for its high-quality products make the business and its brands a great addition to our existing Valeo UK growth platform to sit alongside our wider portfolio of products including our very successful Rowse Honey brand. We look forward to welcoming and working with our new colleagues in Matthew Walker as we pursue our ambitious growth plans for the business”.