Campbell Soup has announced that it has completed the sale of UK-based Kettle Foods to Valeo Foods for approximately €75 million (£66 million).
The European Chips Business comprises UK-based Kettle Foods Limited and its sister company, Yellow Chips B.V. in the Netherlands.
The food giant will retain the Kettle Brand business in the United States and the rest of the world, except for Europe and the Middle East.
With operations in Ireland, the UK and Continental Europe and sales to approximately 90 countries, Valeo Foods owns a portfolio of 68 popular consumer brands which are house hold names such as Barratt, Fox’s Glacier Mints and XXX Mints, Jacob’s, Batchelors, Odlums, Shamrock, Kelkin and Robert Roberts.
It recently acquired 2 Sisters Food Group's Matthew Walker Christmas puddings in a deal reportedly worth £67 million (€76.3 million).
Established in 1899, the Derbyshire-based company is one of the world’s oldest Christmas pudding makers with a strong market position in the sector.
It was first reported that that UK crisp maker, could be up for sale after parent company Campbell Soup had hired advisers to assess its future, in May this year.
Further reports in August, highlighted Valeo Food's expression of interest in Kettle Foods.
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