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Eight Fifty Food Group sales and profits rose ahead of Sofina deal thegrocer.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thegrocer.co.uk Daily Mail and Mail on Sunday newspapers.
By Edward Devlin2021-05-12T15:16:00+01:00 The popping of champagne corks must be a familiar sound at CapVest HQ – or at least it would be if offices were open – as the PE house continues to celebrate a quite incredible year. However, it could be argued that despite the small matter of the mega-buyout by Bain Capital, nothing has really changed for Valeo. The buy-and-build strategy that has served Seamus Kearney and co so well since bringing Batchelors and Origin Foods together in 2010 will roll on unabated. If it ain’t broke, why fix it? Valeo has become an expert in snapping up undervalued business, identifying synergies and extracting maximum value to create a €1.1bn revenue group worth far more than the sum of its parts. ....
Jacobs and Batchelors owner Valeo circled by three private-equity firms PAI Partners, Cinven and Bain Capital are given until end of May to submit final bids about 6 hours ago
Bidders vying to buy Dublin-based Valeo Foods, the owner of brands from Jacobs biscuits to Batchelors baked beans which is on the market for more than €1.7 billion, have been whittled down to a shortlist of three private-equity firms. Paris-based PAI Partners, London-headquartered Cinven and Bain Capital, the Boston outfit co-founded by former US presidential candidate Mitt Romney, have been given until the end of May to submit final bids for Valeo, according to sources, confirming a recent report by deals publication Mergermarket. ....
By Edward Devlin2021-04-09T09:40:00+01:00 CapVest has sold Eight Fifty Food to Canadian giant Sofina for about £1.2bn, less than two years after creating the group. How has it managed it? Plant-based pioneers have continued a seemingly unstoppable assault on the meat industry this year as they lure away more consumers with alternative sources of protein. And as each week brings yet more headlines of money pouring into vegan brands, you could be forgiven for thinking investors had forgotten about old-fashioned meat processors. So, the surprise takeover of Young’s and Karro owner Eight Fifty Food Group by Canada’s Sofina Foods, in one of the biggest food deals of 2021 so far, is a timely reminder the battle to provide shoppers with protein is by no means a one-sided fight. ....