2 Sisters Food Group Sells Christmas Puddings Business to Valeo Foods
2 Sisters Food Group is selling its Matthew Walker Christmas puddings business to Valeo Foods Group, the fast-growing international ambient foods producer, for £67 million. The Matthew Walker business, based at Heanor in Derbyshire, is credited as the world’s oldest Christmas pudding maker with a strong market position in its sector.
The sale to Valeo Foods Group adds another name to the Dublin-based company’s portfolio of 68 international food brands, which includes Jacobs, Rowse and Balconi.
Ranjit Singh, president of Boparan Holdings, the parent of 2 Sisters Food Group, says: “It is another significant deal, with good enterprise value, underlining our commitment to transforming our business. It strengthens our balance sheet even further and shows we are following through with our promises by focusing on our key strengths.”
Ronald Kers, chief executive of 2 Sisters Food Group, adds: “This sale is further good news as we continue at pace with our turnaround plan. We remain very much on track to meet our strategic aims of focusing on our core businesses and improving our operational performance.”
The finalisation of the transaction is subject to customary closing conditions and is expected to complete in the coming weeks.
