Valeo Foods Group acquires New World Foods Europe
The acquisition of British meat snack producer New World Foods Europe (NWFE) will add approximately £25 million in annual sales to Valeo Foods.
Valeo Foods Group, an international food group and owner of Rowse honey, Kettle crisps and Jacob’s biscuits, has agreed to acquire NWFE from Australian based FMCG entrepreneur Tony Quinn.
The company operates an international food business across the UK, Ireland and Continental Europe, generating annual revenues of over €1.2 billion. NWFE marks Valeo Foods’ 19th acquisition since the company’s formation in 2010.
The Group’s diversified products, which are sold in over 106 countries around the world, include numerous brands in categories like snacking and sweet treats, confectionery, baking and meal ingredients and foodservice. The UK is Valeo Foods’ biggest market, accounting for just over half of current revenues.
The portfolio of brands owned by NWFE, under The Meatsnacks Group, includes Kings, Wild West, Speyside and Cruga. Employing 120 people at its main operations in York and Forres, NWFE will become part of the Valeo Foods Snacking Division headed by Ashley Hicks, which includes Kettle Foods, Tangerine Confectionary, Big Bear and Its All Good.
“A great addition”
James Newitt, NWFE managing director, commented: “We identified Valeo Foods as the perfect strategic fit to leverage further distribution opportunities in all channels, particularly international and convenience as well as benefit from a more holistic and localised ownership.”
Seamus Kearney, group CEO of Valeo Foods, said that NWFE will be “a great addition” to their portfolio, and that the company was “very excited about the growth potential of NWFE’s portfolio of on-trend protein snacks and the opportunity to further develop the meat snacks category.”