Valeo Foods, a portfolio company of CapVest Partners, is making its 18th acquisition with Schluckwerder, bringing its total annual sales to €1.2 billion
Concept photo of investors merging two pieces of a puzzle

Dublin-based food business Valeo Foods has acquired The Schluckwerder Group from Frankfurt-headquartered venture capital and private equity firm Novum Capital.

German group Schluckwerder is based in Adendorf and manufactures marzipan, nougat, and chocolate specialities for the domestic retail industry. It owns the Lübecker marzipan brand Erasmi & Carstens, founded in 1845.

Novum Capital acquired Schluckwerder Group in December 2018 and appointed a new management team consisting of chief executive Gérard Rog, chief operating officer Jochen Rock, and chief financial officer Marc Dieck, who will all remain onboard following the takeover.

Novum Capital partner Felix Homann said: “We are very pleased about this because it ensures continuity. And Valeo Foods will be a reliable shareholder.”

Rog added: “We are delighted to have a new shareholder who shares our view of the strengths and potential of our company and supports our growth strategy.”

Seamus Kearney, group chief executive of Valeo Foods, said: “Schluckwerder is a great company and is our first acquisition in Germany. The purchase represents the continued realisation of our strategy of building a major international food business.”

Valeo Foods: A food and drinks giant

Valeo Foods has a portfolio of more than 50 international food brands, which are sold across 90 countries globally, including Rowse Honey, Odlums, Batchelors, Jacob’s, Balconi, and Kelkin

The company was formed in 2010 through the merger of Irish food manufacturer Batchelors and Origin Foods, then the food division of Irish agricultural group Origin Enterprises. The company is owned – also since 2010 – by London-based private equity firm CapVest Partners.

Valeo Foods is already making its 18th acquisition with the Schluckwerder Group, bringing its total annual sales to €1.2 billion.

Novum Capital received M&A and debt advisory support for the transaction from Network Corporate Finance, legal advice from the law firm Kümmerlein, and tax advice from Taxess.

Date published: 12 January 2021

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