Panettone Classico Valeo

Dal Colle makes bakery products, sweet treats and snacks

Valeo Foods Group is back on the acquisition trail with a deal to buy Italian bakery producer Dal Colle as the ambient giant looks to build a platform across Europe.

With a history dating back 120 years, Dal Colle produces a range of more than 180 bakery products, sweet treats and snacks, including pandoro, panettone and croissants, which are sold in 35-plus countries.

Valeo said the transaction – for an undisclosed sum – provided “a highly complementary addition” to its expanding Italian platform and operations, built on its initial acquisition of Balconi in 2015 and subsequent deals for Val D’Enza in 2017 and IDP Pattini in 2023.

“Dal Colle is a fantastic addition to the Valeo Foods portfolio, which already boasts many of Europe’s finest and most established brands, with deep heritage and connections with consumers,” CEO Ronald Kers said.

“On a commercial level it diversifies and strengthens our product offering and completes our range of quality confectionery and sweet treats in this market, ranging from iconic sponge cakes to wafers and biscuits. It also adds considerable new manufacturing and logistical capabilities to our Italian platform, which will support our growth ambitions in Italy and across Europe.

“This is very consistent with our vision to position Valeo Foods as the undisputed European sweet treats champion.”

Alberto Alfieri, CEO of Valeo Foods Italy and president of Balconi Spa, added: “We have long admired Dal Colle, who share our passion for delivering high-quality products to consumers and their heritage range and operational footprint are highly complementary to Valeo Foods Italy and the Balconi business.

“We very much look forward to welcoming close to 90 new colleagues to our team and work with them to accelerate the growth of our enlarged Italian business.”

With revenues in excess of €1.5bn, Valeo Foods built its portfolio with an acquisition spree of more than 20 deals since 2010. It now owns more than 80 brands, including Kettle, Jacob’s, Barratt, Fox’s Mints and Rowse, sold in excess of 100 countries. The Irish group employs more than 4,500 staff across 30 manufacturing facilities and has offices in the UK, Italy, Germany, the Netherlands, Ireland, the Czech Republic and Canada.

Owner Bain Capital injected another €50m into the company earlier this year to bolster a turnaround effort.