Sector News

Valeo Foods acquires Matthew Walker from 2 Sisters for £67m

October 10, 2019
Food & Drink

Valeo Foods Group has agreed to acquire UK-based Bakery Foods, trading as Matthew Walker, from 2 Sisters Food Group for £67 million.

Employing around 200 people at its manufacturing facility in Derbyshire, Matthew Walker produces Christmas puddings, seasonal sponges, cakes and free-from desserts for the retail and foodservice channels.

The acquisition will add approximately €40 million in sales to Valeo Foods, taking annualised sales for the group to more than €1 billion.

Matthew Walker will join Valeo Foods’ portfolio of brands such as Rowse Honey, Barratt, Jacob’s, Fox’s Glacier Mints, Balconi and the Kettle Crisps brand in Europe, which it acquired last month.

Ian Ainsworth, managing director of Valeo Foods UK, said: “The strength of Matthew Walker’s market leadership combined with the strong consumer demand for its high-quality products make the business and its brands a great addition to our existing Valeo UK growth platform to sit alongside our wider portfolio of products including our very successful Rowse Honey brand.

“We look forward to welcoming and working with our new colleagues in Matthew Walker as we pursue our ambitious growth plans for the business.”

Established in 2010 as a portfolio company of CapVest Partners, Valeo Foods has completed 14 acquisitions over the past nine years. The firm, which employs more than 3,000 people, operates across four platforms: Valeo UK, Valeo Ireland, Valeo Europe and Valeo Confectionery.

Ronald Kers, CEO of Boparan Holdings, the parent company of 2 Sisters Food Group, said: “This sale is further good news as we continue at pace with our turnaround plan. We remain very much on track to meet our strategic aims of focusing on our core businesses and improving our operational performance.”

The news comes the same week as Valeo secured a deal to sell Nimbus Foods, a supplier of inclusions, decorations and toppings, to Meadow Foods.

Source: FoodBev

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

January 24, 2021

Cargill in talks to divest assets in global sugar trading business

Food & Drink

The agri-food powerhouse is now eyeing the potential sale of a 50 percent stake Alvean, a joint venture with Brazilian sugar giant Copersucar. Following the pending divestiture, Cargill would pivot its focus toward its food processing and meat activities.

January 23, 2021

Reusable packaging scrutinized: Huhtamaki and Stora Enso welcome science supporting single-use fiber fast food model

Food & Drink

The Life Cycle Assessment (LCA) conducted by Ramboll suggests advantages are primarily driven by the carbon emissions related to the amount of energy and freshwater required to wash the multi-use tableware.

January 23, 2021

Heineken South Africa to cut jobs due to alcohol ban impact

Food & Drink

The brewer’s South African arm says there has been significant impact from bans on alcohol sales and Covid-19 trading restrictions. At the end of December, the country banned alcohol sales for the third time to help reduce the pressure on emergency services.

Send this to a friend