Valeo Foods, the Dublin-based consumer foods business owned by private equity firm CapVest, recorded double-digit sales growth for its 2018 financial year. Accounts filed by Valeo show sales for its 2018 financial year stood at €790.6m, which was up 25% on the previous year.

This strong growth was driven by two acquisitions in 2018, Tangerine Confectionery for €126.2m and Oatfield Sweets for €2.3m. Valeo has since acquired two further businesses, Kettle Foods for €75.2m and Matthew Walker Christmas puddings for €74.6mm, which are likely to push sales in 2019 above the €1bn mark.

Valeo Foods saw its pre-tax profits grow by 7% in the year to reach €39.2m. Operating profits grew by 9% to €68.5m, despite operating profit margins narrowing from 9.9% in 2017 to 8.7% in 2018.

Valeo Foods was formed in 2010, following the merger of Bachelors and Origin Foods and the business has an asset value of €1.2bn today.

Valeo owns a host of consumer food brands, including Batchelors, Odlums, Chef, Kelkin, Robert Roberts, Rowse honey and the Italian brand Balconi.