Ireland-based Valeo Foods has reignited its acquisition strategy with the purchase of Bulgarian sweet bakery manufacturer Prestige-96.
The deal, agreed for an undisclosed sum, marks Valeo’s eighth M&A transaction since 2022, as the Bain Capital-backed group continues to expand its footprint across Europe.
In a statement issued today (19 March), Valeo said the addition of Prestige strengthens its ambition to position itself as a leading player in the European sweet treats market.
The company also highlighted that the acquisition opens up opportunities to diversify into adjacent snacking categories, while enhancing its international reach. By combining the export capabilities of both businesses, Valeo aims to accelerate growth across existing territories and enter new markets.
Established in 1996, Prestige produces a range of biscuits, wafers and mini-cakes, with well-known brands including Naya, Hyper, Mirage and Roden Kray. The business employs around 450 people, with its current management team and workforce set to remain in place following the acquisition.
Valeo Foods CEO Ronald Kers said: “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.
“This acquisition is a clear investment in long term, sustainable growth, adding capabilities that naturally enhance our core business.”
Valeo currently generates annual revenues of approximately €2bn ($2.3bn), supported by a portfolio of established brands including Balconi cakes, Barratt confectionery, Pedro sweets, Mila wafers and Rowse Honey.
Prestige CEO Darina Stoyanova added: “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.”
Further details regarding Prestige’s financial performance, manufacturing operations and market presence have not yet been disclosed.
Valeo has been actively building its portfolio since Bain Capital acquired the Dublin-based group from CapVest in 2021. Since then, it has completed a series of strategic acquisitions to support its expansion.
Recent deals include the addition of Melegatti 1894 and Freddi Dolciaria in Italy last year. In 2024, the group also acquired IDC Holding in Slovakia, Appalaches Nature in Canada and Italian bakery business Dal Colle. Earlier, in 2022, it strengthened its presence in North America with the purchase of maple syrup producer Les Industries Bernard & Fils.
