2nd September 2021
Specialist lawyers from the Walker Morris Food & Drink Team have advised leading ambient food group, Valeo Foods Group, on its acquisition of New World Foods Europe (NWFE), the leading producer of meat snacks in the UK from the Australian based serial FMCG entrepreneur Tony Quinn.
Valeo Foods is a fast-growing global ambient food business with significant operations in the UK, Ireland and Europe. With annual sales of over €1 billion, a five times increase in the past ten years, the Group employs more than 4,000 people across its operations, which includes 20 manufacturing facilities. Valeo Foods owns 82 food brands many of them category leaders including Rowse honey, Kettle crisps, Jacob’s biscuits, Matthew Walker puddings, Batchelors peas and beans, Kelkin Gluten free, Odlums flour and Roma pasta.
NWFE has grown impressively since 2018 when it acquired The Meatsnacks Group, co-founded by James Newitt and current Managing Director. Employing 120 people at its main operations in York and Forres, NWFE will become part of Valeo Foods’ Snacking Division, which includes Kettle Foods, Tangerine Confectionary and Big Bear and Its All Good.
Richard Naish, Head of the Food & Drink Team, led the Walker Morris Team with support from Adrian Moss, Charlotte Bontoft and Philippa de la Fuente.
Commenting on the transaction, Seamus Kearney, Group CEO, Valeo Foods said:
“The acquisition of NWFE is consistent with our ambition of creating a global food business with an exceptional portfolio of leading food brands and products in attractive categories. We are very excited about the growth potential of NWFE’s portfolio of on-trend protein snacks and the opportunity to further develop the meat snacks category. We want to remain at the forefront of consolidation in the ambient food sector in Europe and we will continue to seek out further exciting opportunities for growth.”
Richard Naish added:
“Having worked with Valeo Foods over a number of years we’ve built up a good understanding of the business and the team and have a solid working relationship. The acquisition represents a great fit for both Valeo Foods and NWFE and will provide a solid platform for future growth.
“This transaction further reinforces Walker Morris’ ability to draw on a team of lawyers with a wide range of expertise and knowledge to provide specialist legal advice to our clients in the food and drink industry.”