Irish Valeo to take over Jacob Fruitfield

Irish company Valeo Foods has agreed to acquire biscuit and jam maker Jacob Fruitfield – a company with an estimated value of about €70 million.

The deal will bring together some of Ireland’s best known food brands, creating a company with a combined turnover of €300 million and 500 employees. Valeo was formed last year in a merger of Batchelors with Origin Foods which owned the Odlums, Shamrock and Roma brands. Other brands in the business include Erin, Squeez, Amigo and Lustre.

Jacob Fruitfield Food Group brought together Fruitfield Foods, which was acquired from Nestlé in 2002, and Irish Biscuits, which was purchased from Groupe Danone in 2004. Its brands include Fig Rolls, Kimberley, Mikado and Coconut Creams, Chef sauces, Fruitfield jams and marmalades, and Silvermints and Scots Clan sweets and confectionery.

Valeo chairman Seamus Fitzpatrick says, “Given the tough trading environment, growing the business to allow investment behind our brands makes strong commercial sense. Our acquisition of Jacob Fruitfield is a significant step in what is likely to be an ongoing process of further consolidation in the Irish food sector.”