Valeo Foods one of the fastest-growing international ambient food groups has acquired IAG (It's All Good), a producer of tortilla snacks in the UK, including the Manomasa range of premium chips.
Irish-based Valeo Foods is a portfolio company of CapVest Partners LLP, and IAG is the 17th acquisition made by the group since its formation in 2010.
This will mark another significant addition to Valeo’s growing international portfolio that currently generates annual revenues of in the region of €1 billion in sales.
IAG has an annual turnover of approximately £37 million, reports RTÉ.
Commenting on the transaction, Seamus Kearney, Group CEO, Valeo Foods, said: "We are very excited about the potential of IAG’s portfolio of private label and branded products and the opportunity to expand our presence in snacking, where we already have fantastic brands and category leaders like Kettle crisps and Metcalfe’s popcorn."
"We want to remain at the forefront of consolidation in the ambient food sector in Europe and we will continue to seek out further exciting opportunities for growth," he said.
Valeo Foods' portfolio includes a number of household brands such as Jacobs, Kelkin, Barratt and Foxs Mint.
In September 2019, Valeo Foods acquired Campbell Soup Company’s European Crisps Business, which includes Kettle Foods Limited and sister company Yellow Chips BV.
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