This acquisition reportedly strengthens Valeo Foods Group’s position in the packaged wafers, cakes, and biscuits category, complementing the existing Balconi business across Southern Europe and international markets.
Headquartered in Dublin, Valeo Foods operates across Europe with a portfolio of brands that includes Jacobs, Fox’s Glaciers, Rowse, Kettle, Odlums, Barratt, and Balconi.
Valeo Foods is set to buy United Kingdom-based Tangerine Confectionery from private equity firm Blackstone Group for $127.6 million, according to media reports.
Helsinki-based Raisio sold its confectionery business, which includes popular brands such as Poppets, Fox’s, XXX, Payne's Just Brazils and Pedro, as well as private-label and contract-manufactured products, for €100 million ($120 million) to Valeo Foods Ltd. on Dec. 29, 2017. The deal also includes six production plants in the U.K. and Czech Republic.