Private equity firm CapVest is reportedly seeking a buyer for its Valeo Foods operation, which includes consumer foods brands such as Batchelors, Rowse, Kettle Foods and Balconi.
According to reports at the weekend, CapVest has appointed Goldman Sachs to oversee the sale of the Ireland-based business, which has been valued at around €1.7 billion.
Valeo Foods, which was formed in 2010, reported sales of €943 million in the year to March 2020, which was a 19% increase on the previous year.
Profits for its most recent financial year stood at €64.2 million, with profit margin at 7%.
As well as Valeo Foods, CapVest's portfolio includes pork producer Karro, Scandinavian poultry firm Scandi Standard, NextPharma and pub firm Punch Taverns.
CapVest is run by Seamus Fitzpatrick, a former Aer Lingus executive.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.