| 9.5°C Dublin

Food firm gobbled up

ICONIC Irish food company Jacob Fruitfield has been acquired by Valeo Foods, a joint venture of Batchelors and Origin Enterprises' branded food division.

The deal was signed off for an undisclosed sum and will require regulatory approval before reaching conclusion.

The move will mean the joined firm will become one of Ireland's biggest consumer food groups, with an annual turnover of around €300m and a workforce of nearly 500.

Valeo, controlled by London-based private equity house, CapVest, said the deal was consistent with its strategy of growth.