Valeo Foods acquires Christmas pudding firm for £67m

By Dan Colombini contact

- Last updated on GMT

Christmas pudding manufacturer Matthew Walker currently employs approximately 200 people at its specialist facility in Derbyshire
Christmas pudding manufacturer Matthew Walker currently employs approximately 200 people at its specialist facility in Derbyshire

Related tags: Finance, Bakery

Valeo Foods Group has confirmed closure of the deal to acquire Bakery Foods from 2 Sisters Food Group for a total consideration of around £67m.

The Christmas pudding business, trading as Matthew Walker, will add approximately £35m in sales to Valeo Foods, taking annualised sales for the group to over £1bn.

Matthew Walker currently employs approximately 200 people at its specialist manufacturing facility in Derbyshire, where the company produces a wide range of high-quality pudding products for the UK and export markets.

Growth platform

The strength of Matthew Walker’s market leadership, combined with the strong consumer demand for its high-quality products, make the business and its brands a great addition to our existing Valeo UK growth platform,”​ said Ian Ainsworth, managing director, Valeo Foods UK.

It will sit alongside our wider portfolio of products, including our very successful Rowse Honey brand.

“We look forward to welcoming and working with our new colleagues in Matthew Walker as we pursue our ambitious growth plans for the business.​”

Valeo Foods has successfully completed 14 acquisitions over the past nine years, including Matthew Walker. The group, which employs more than 3,000 people worldwide, currently operates across four strategic growth platforms of significant size and scale, comprising Valeo UK, Valeo Ireland, Valeo Europe and Valeo Confectionery.

It recently agreed to acquire snack brand Kettle Foods​ from US-based Campbell Soup Company, in a deal worth £66m.

As previously reported by Food Manufacture​, the sale was agreed earlier this month​, the latest in wave of sales from 2 Sisters as it focuses on strengthening its core operations.

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