Valeo Foods Group, one of the fastest-growing international ambient food groups, has agreed terms to buy Campbell Soup Company’s European Crisps Business, including Kettle Foods and sister company Yellow Chips for £66 million, or €73 million on current exchange rates.
Kettle Foods was founded in 1988 and employs 500 people across the UK and the Netherlands. Kettle manufactures and distributes hand cooked potato crisps and vegetable crisps under the Kettle and Go Pure brands, as well as Metcalfe’s Skinny Popcorn, which are sold across the UK, Europe and the Middle East.
On completion, Kettle Foods’ brands will join Valeo Foods’ fast-growing international portfolio of popular consumer brands including Rowse Honey, Barratt, Jacob’s, Fox’s Glacier Mints and Balconi. The proposed acquisition will add approximately €115 million to Valeo Foods’ current annual sales of over €850 million.
Valeo Foods has successfully completed 12 previous acquisitions over the past nine years. The Group, which employs over 3,000 people worldwide, operates across four strategic growth platforms, Valeo UK, Valeo Ireland, Valeo Europe and Valeo Confectionery.