Batchelors and Origin Foods are to merge to form Valeo Foods, it was announced today.
The merger brings together leading Irish brands such as Odlums, Batchelors, Sqeez, Erin, Shamrock and Roma.
Origin Foods comprises three of Ireland’s premier food brands Odlums, Shamrock and Roma.
Founded in 1935, Batchelors is a leading manufacturer and retail category partner for brands such as Batchelors, Erin, Sqeez, Amigo, Lustre and Picnic servicing the canned vegetables, dry sauces and mixes, ambient juices, canned fruit and fish categories.
Batchelors also represents a number of significant food and beverage companies in the Irish market.
Valeo Foods is backed by two companies, CapVest Limited, a leading European investment group, and Origin Enterprises plc the quoted Irish agri-nutrition and food group.
The company will have a turnover in the region of €200m.
Peadar Kearney, head of Origin Foods, will be chief executive officer of Valeo Foods and Aidan O’Byrne, finance director of Batchelors will be appointed chief financial officer.
Commenting on the announcement today, Kearney said: “Valeo Foods will comprise one of the strongest portfolios of established Irish food brands and will be ideally positioned to participate in further brand development in the Irish consumer food market.
“The combination of Origin Foods and Batchelors will substantially enhance the offering to consumers and will support superior levels of service through our commitment to excellence in product innovation, manufacturing and distribution for our customers and principals.”
On completion, Origin will have a 45% shareholding in Valeo, and CapVest will have a 55% shareholding. The transaction is subject to clearance by the Irish Competition Authority.