Batchelors and Origin Foods are to merge under the brand Valeo Foods Group.
The new food group is being backed by Origin Enterprises and European investment group Capvest.
If the merger is approved by the Competition Authority, Origin will have a 45 per cent shareholding in Valeo, with Capvest taking the majority 55 per cent stake. The new food group will have a turnover in the region of €200 million.
The management team of Valeo Foods will be drawn from both businesses, with head of Origin Foods Peadar Kearney taking up the role of chief executive and Batchelors financial officer Aidan O’Byrne appointed chief financial officer of the new entity.
Mr Kearney said the Valeo Foods will have one of the strongest portfolios of established Irish food brands. Batchelors brands include Erin, Sqeez, Amigo, Lustre and Picnic, while Origin owns a number of well-known brands such as Odlums, Shamrock and Roma.
