Valeo Foods Group makes strategic move acquiring Slovakian snacks business I.D.C Holding
Irish headquartered Valeo Foods Group, behind brands including Jacobs crackers, Kettle crisps and Rowse honey, has complete a deal to acquire Slovakian business, I.D.C Holding, specialising in chocolate, wafers and biscuits, writes Neill Barston.
The value of the acquisition, which has not been revealed, marks a significant expansion of activity for the company in its European ambitions, opening up access to additional product segments across the continent.
For its part, I.D.C, which has gained more than a century of manufacturing experience, has a reported turnover of around €200 million, featuring recognised brands such as Mila, Lina, Kávenky, Goralki, Moments, Verbena and many others. The Group employs more than 1,150 people across three production sites located in Slovakia and three subsidiaries in the Czech republic, Hungary and Poland.
According to Valeo, the business represents a natural fit for its operations, which have sought to expand in a period of high volume growth for the overall snacking segment, despite wider market tests.
The company, with combined revenues put at over €1.6 billion, is owned by investment firm Bain Capital, now operates a total of over 80 rands 100 countries around the world including Balconi, Pedro, Carstens, Jacobs, Barratt sweets, Fox’s Mints, Taveners, Poppets, Rowse Honey and Maple Crest. The Group employs over 4,500 people across 30 manufacturing facilities and offices in the UK, Italy, Germany, the Netherlands, Ireland, the Czech Republic and Canada.
Commenting on the transaction Valeo Foods Group Chief Executive, Ronald Kers said: “We are delighted to complete this acquisition and welcome the team to Valeo Foods Group. The acquisition of I.D.C. Holding introduces complementary brands and opens the door to significantly strengthening our position in the Central and Eastern European market and solidifying our leading position with our international retail partners.”
“We are confident our market strategies will drive profitable growth through enhanced distribution, greater penetration and a cost-efficient supply chain. We expect the strength of our combined organisations to create value for years to come. With I.D.C. Holding joining Valeo Foods Group we can continue to build on our solid foundation underpinned by market leading brands, operational excellence and a strategic focus on becoming the undisputed sweet treats champion of Europe.”