Valeo Foods Buys UK Confectionary Firm In £100M Deal
Valeo Foods is reportedly planning to buy UK’s Tangerine Confectionery for more than £100 million (€112 milion).
The deal will see famous sweet brands like Dip Dab, Fruit Salad and Blackjack come under Valeo's control.
The Irish food business owned by Seamus Fitzpatrick's CapVest will see the company’s annual revenues increase to €900 million, reports the Irish Independent.
Valeo already has Fox's Glacier Mints and Poppets in its portfolio after buying a confectionery business called Big Bear from Raisio.
Finnish food group announced in December last year that it was selling its confectionery operations in the UK and the Czech Republic to Valeo Foods Group.
Valeo is a fast-growing food group with operations in Ireland, the UK and continental Europe.
The group was established in 2010, and now comprises of brands including Jacob’s, Fruitfield, Roma, Batchelor’s, Chef and Odlums.
© 2018 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.