Valeo Foods buys tortilla chip producer It’s All Good

Valeo Foods Group has acquired a UK producer of premium tortilla snacks, It’s All Good (IAG), as it aims to create a major international food business.

Founded in 2012, IAG is known for its Manomasa range of premium chips. It has since expanded its private label and branded product range beyond its flagship tortilla snacks to include rice cakes, popped chips and flat breads. The company employs 265 people at its main operations in Gateshead in north east England.

The deal – which was made for an undisclosed sum – will reportedly add approximately £37 million in annual sales to Valeo Foods, a portfolio company of CapVest Partners.

IAG marks Valeo Foods’ 17^th acquisition following its 2019 purchases of Campbell Soup’s European crisp business – which saw it take over the Kettle Foods brand in the UK, Europe and the Middle East – and Matthew Walker, a producer of seasonal puddings and desserts.

Since its formation in 2010, Valeo Foods has expanded its portfolio to include snacks, confectionery, baking and meal ingredients, and food service, as it looks to establish a major international food business across the UK, Ireland and mainland Europe.

Following the transaction, IAG will become part of Valeo Foods’ snacking division, joining the likes of Kettle Foods, Tangerine Confectionery and Big Bear.

“The acquisition of IAG is consistent with our ambition of creating a global food business with an exceptional portfolio of leading food brands and products in attractive categories,” said Seamus Kearney, CEO of Valeo Foods Group.

He continued: “We are very excited about the potential of IAG’s portfolio of private label and branded products and the opportunity to expand our presence in snacking, where we already have fantastic brands and category leaders like Kettle crisps and Metcalfe’s popcorn.”

Calum Ryder, founder of IAG and current managing director, added: “Valeo Foods is a great partner for our business. They understand the value of brands and have developed a formidable international growth platform that will significantly increase the future opportunities for our brands and our people.”