Ireland-based food business Valeo Foods acquires Schluckwerder Holding

Valeo Foods Group, owner of the brands Kettle, Rowse and Jacob’s, has reached an agreement with private equity firm Novum Capital to acquire German confectionery producer Schluckwerder Holding.

The deal will bring the annual sales of Valeo to around €1.2 billion and will strengthen its position in the European market.

Schluckwerder was founded in 1956 and has a turnover of €90 million. Its products include 175-year-old Lübeck Marzipan brand Erasmi & Carstens, as well as marzipan, nougat, and chocolate specialities.

Owned by London-based private equity firm CapVest Partners, Valeo Foods was formed in 2010 through the merger of Batchelors with Origin Foods. Since then it has undergone significant expansion through external growth. This is its 18th acquisition, the previous one being in December 2020 when Valeo took over snack maker It’s All Good.

Image credits: Valeo Foods Group