Focused on biscuits, wafers and mini-cakes, Prestige-96 claims to be the leading Bulgarian confectionery producer and its products can currently be found in more than 30 international markets.
The deal will see Dublin-based Valeo Foods acquire 100% of Prestige-96, which employs approximately 450 people across its operations.
According to Valeo, this latest acquisition marks a significant milestone in its long-term growth strategy, which is focused on acquiring market-leading, ‘iconic’ local brands as part of its continued European expansion.
The Prestige-96 acquisition is Valeo Foods’ eighth since 2022, and will serve to reinforce the firm’s ambition to strengthen its position as Europe’s leading sweet treats manufacturer.
Valeo added that the move would help create new pathways to expand into adjacent snacking categories and would broaden its international footprint by leveraging the export strengths of both organisations to grow in existing and new markets.
“Prestige is an exceptional business with outstanding brands, a strong market position, and a highly capable team,” said Ronald Kers, CEO of Valeo Foods Group.
“By combining Prestige’s category expertise with the scale of the Valeo Foods network, we see significant opportunities to accelerate growth, expand into new markets, and bring even more loved products to consumers across Europe.”
He continued: “This acquisition is a clear investment in long term, sustainable growth, adding capabilities that naturally enhance our core business. We look forward to welcoming the Prestige team as we grow together.”
Prestige’s modern production and warehousing facility is also set to enhance Valeo’s capacity, operational flexibility and overall efficiency.
The completion of the transaction is subject to customary regulatory approvals in Bulgaria; Valeo has opted not to disclose the terms of the deal.
Darina Stoyanova, CEO of Prestige-96 added: “Prestige has grown into one of Bulgaria’s leading sweet snacking companies thanks to the dedication of our people and the trust of our consumers.
“Joining Valeo Foods gives us an even stronger platform to build on that success. By combining Prestige’s much loved brands with Valeo Foods’ international scale and capabilities, we see tremendous potential to grow our business, reach new markets and continue delivering the products consumers love.”
