Valeo Foods has acquired Les Industries Bernard & Fils from Phoenix Partners for an undisclosed sum.
Based in the Province of Quebec, Canada, Bernard has been producing pure maple syrup since the 1800s. The company’s products are sold in over 40 countries worldwide, with primary distribution in the US and Canada.
The transaction represents Valeo Foods’ first acquisition in North America and will see the business expand its existing presence in the maple syrup sector with the Buckwud brand.
Valeo Foods owns brands such as Rowse honey, Kettle crisps, Jacob’s biscuits and Barratt confectionery.
Valeo Foods CEO Seamus Kearney said: “Bernard is a great business, led by a very experienced and passionate team and its acquisition further enhances our growing portfolio of family-favourite food brands and products…Valeo Foods is on a journey to becoming a leading global food business and we remain focused on growing our operations organically and through further acquisitions.”
Valeo says the transaction is expected to add a further $95 million to the company’s revenues.
By Rafaela Sousa
Source: foodbev.com
Schumacher will replace Alan Jope, who announced his decision to retire last September, less than a year after a failed attempt by Unilever to buy GlaxoSmithKline’s consumer healthcare business and just months after activist investor Nelson Peltz joined the company’s board.
Globally, plant-based ice creams have doubled their share of the market over the last five years, according to Tetra Pack. Pea protein and coconut milk are leading the way, but Tetra Pak cites data showing that oat-based ice cream launches have doubled in the previous year.
A myriad of so-called eco-labels are being rolled out across various F&B products, but with no gold standard or strict rules governing precisely what the logos mean and what methodology is behind them, concerns are growing that they will confuse consumers and ultimately be counterproductive.
