Valeo Foods Group, backed by Bain Capital, has completed the sale of its Irish operations to a consortium headed by former managing director Hilliard Lombard. The financial details of the transaction remain undisclosed.
The divestiture encompasses prominent Irish brands such as Batchelors baked beans, Chef beetroot, and Odlums flour. The business includes four manufacturing facilities in Ireland, a logistics hub in Dublin, and an office in Northern Ireland.
According to Valeo, the sale aligns with its strategic objective to optimize its portfolio and sharpen its focus on becoming a leader in sweet treats. The company highlighted its substantial recent investments in honey, confectionery, and sweet bakery products. This follows the previous year’s sale of meat snacks producer New World Foods Europe to Irish processor Kepak.
Valeo stated it intends to maintain a close commercial relationship with the newly independent Irish business, which will include distributing Valeo’s international brand portfolio within Ireland.
Lombard, whose career spans seven years as an executive at bakery giant Aryzta, has acquired various food assets through his investment vehicle, BiaVest.
Under the BiaVest umbrella, recent transactions include the acquisition of dairy and coffee-drinks business Münsterland J Lülf by Irish investment company Kerga—alongside Development Capital—last year. Additionally, BiaVest purchased an 80% stake in German pasta manufacturer Riesa Nudeln in 2023, and two years prior, partnered with Development Capital to acquire Irish yogurt business Nomadic Dairy.
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