Valeo Foods Secures I.D.C Holding Acquisition to Strengthen CEE Presence
Deal News | Dec 16, 2024 | EIN
Irish food manufacturer Valeo Foods, backed by Bain Capital, has successfully gained approval from the European Commission to acquire Slovakian confectionary firm I.D.C Holding. Valeo Foods, known for its extensive range of food and confectionary brands distributed globally, views the acquisition as a significant and transformative addition to its business. I.D.C Holding operates primarily in Central and Eastern European markets with a portfolio that complements Valeo’s existing sweet snack offerings. The European Commission's approval followed assessments indicating no major competition concerns arising from the merger. I.D.C Holding, with net sales close to 200 million euros and employing around 1,150 people, aligns with Valeo's strategy to expand in the promising Eastern European market. CEO Ronald Kers emphasized that this merger enhances Valeo’s industry standing and supports its growth ambitions in Europe.
Sectors
- Food Manufacturing
- Confectionary
- Private Equity
Geography
- Ireland – Valeo Foods is an Irish company involved in the acquisition.
- Slovakia – I.D.C Holding, the target company in this acquisition, is based in Slovakia.
- Central and Eastern Europe (CEE) – I.D.C Holding operates mainly in this region, and the acquisition bolsters Valeo's presence here.
Industry
- Food Manufacturing – This involves the production and distribution of food products, relevant as both Valeo Foods and I.D.C Holding operate within this industry.
- Confectionary – This involves the production of sweet treats, including chocolate and sugar confectionaries, which is a significant part of I.D.C Holding's and Valeo Foods' product portfolio.
- Private Equity – Bain Capital's role as a private equity firm backing Valeo Foods underscores the involvement of PE in this transaction.
Financials
- 200 million euros – I.D.C Holding's net sales in 2023.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Valeo Foods | Acquiring Company | Company | An Irish food manufacturing company with a global presence, particularly in confectionary products. |
| I.D.C Holding | Target Company | Company | A Slovakian manufacturer and distributor of confectionary products in the CEE region. |
| European Commission | Regulatory Body | Government | The EU regulatory authority that approved the merger. |
| Bain Capital | Private Equity Firm | Company | A US-based global private equity firm that indirectly controls Valeo Foods. |
| Ronald Kers | CEO of Valeo Foods Group | Person | The Chief Executive Officer leading Valeo Foods during this acquisition. |