IDC Valeo site Slovakia

IDC’s site in Slovakia

Valeo Foods has snapped up a confectionery and biscuits producer in Slovakia as part of the group’s ambitions to become a major player in the European sweet treats market.

CEO Ronald Kers called the takeover of IDC Holding “a transformative acquisition” for Valeo.

First established in Slovakia more than a century ago, IDC makes wafer, biscuit, sugar confectionery and seasonal chocolate products under the Horalky, Mila, Lina, Kávenky, Goralki, Moments and Verbena brands.

It generates annual revenues of almost €200m and employs more than 1,150 staff across three production sites in Slovakia and three subsidiaries in Czechia, Hungary and Poland.

Valeo said it was “a natural fit” with its sweet snacking platform and would form “the cornerstone” for its operations in the fast-growing eastern European market.

The acquisition is expected to lead to synergies across the value chain and leverage Valeo Foods’ international sales platform.

“The inclusion of IDC within Valeo Foods Group will enhance our industry position, drive further growth in our portfolio and international footprint and allow us to meet growing consumer demand in this segment,” Kers added.

“We are delighted that the team at IDC share our confidence and ambition to be the major sweet treats player in Europe.”

IDC owner Pavol Jakubec said: “After 32 years of developing IDC from a local, traditional confectionery business into a major regional player in the category, operating from best-in-class manufacturing facilities, it is the right time for a new chapter in the development of this company.

“I am very excited to transition the business to Valeo Foods Group, who have a great track record of acquiring and successfully growing businesses in this space and are the best partner to work with our employees and business partners to support IDC in further growth and expansion.”

The transaction is subject to customary closing conditions, including regulatory approvals and is expected to complete later in 2024.

It is Valeo’s third overseas deal this year, following the acquisition of Canadian maple syrup supplier Appalaches Nature in July and Italian bakery producer Dal Colle in May.

Now owned by Bain Capital, Valeo has built a group with revenues in excess of €1.5bn on the back of an acquisition spree of more than 20 deals since 2010. It holds more than 80 brands in its portfolio, including Kettle, Jacob’s, Barratt, Fox’s Mints and Rowse, and employs more than 4,500 staff across 30 manufacturing facilities.