M&A Deal Summary

Bain Capital Private Equity and CVC Capital Partners Acquire Valeo Foods

On May 10, 2021, private equity firms Bain Capital Private Equity and CVC Capital Partners acquired food company Valeo Foods from CapVest

Acquisition Highlights
  • This is Bain Capital Private Equity’s 4th and CVC Capital Partners’ 15th transaction in the Food sector.
  • This is Bain Capital Private Equity’s 2nd and CVC Capital Partners’ 3rd transaction in Ireland.

M&A Deal Summary
Date 2021-05-10
Target Valeo Foods
Sector Food
Buyer(s) Bain Capital Private Equity
CVC Capital Partners
Sellers(s) CapVest
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs (Financial)
Willkie Farr & Gallagher (Legal)

Target

Valeo Foods

Dublin, Ireland
Valeo Foods is a producer and innovator of branded food products including Jacobs, Rowse, Kettle, Odlums, Barratt and Balconi, among others, across various categories and channels. Valeo Foods was founded in 1845 and is based in Dublin, Ireland.

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Buyer(S) 2

Buyer

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.

DEAL STATS #
Overall 197 of 236
Sector (Food) 4 of 5
Type (Secondary Buyout) 49 of 65
Country (Ireland) 2 of 2
Year (2021) 5 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-28 Proterial

Tokyo, Japan

Proterial engages in the manufacture and marketing of high-grade metal products and materials, electronics and information technology (IT) devices. Proterial was founded in 1910 and is based in Tokyo, Japan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-08 ExtraHop

Seattle, Washington, United States

ExtraHop is on a mission to arm security teams to confront active threats and stop breaches. The Company's Reveal(x) 360 platform, powered by cloud-scale AI, covertly decrypts and analyzes all cloud and network traffic in real time to eliminate blind spots and detect threats that other tools miss. Sophisticated machine learning models are applied to petabytes of telemetry collected continuously, helping ExtraHop customers to identify suspicious behavior and secure assets. ExtraHop was founded in 2007 and is based in Seattle, Washington.

Buy $900M
Buyer

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.

DEAL STATS #
Overall 276 of 323
Sector (Food) 15 of 16
Type (Secondary Buyout) 61 of 76
Country (Ireland) 3 of 3
Year (2021) 13 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-10 Ngern Tid Lor

Bangkok, Thailand

Ngern Tid Lor is the microfinance arm of Krungsri, which provides affordable credit and insurance solutions to Thailand’s underbanked and self-employed population. Ngern Tid Lor was founded in 2006 and is based in Bangkok, Thailand.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-14 AR Packaging

Malmo, Sweden

AR Packaging is a producer of fiber-based consumer packaging. The Company is divided into three divisions: Branded Products (tobacco and confectionery), Barrier Packaging (performance packaging, flexibles) and Food (food/consumer goods and food services). AR Packaging is based in Malmo, Sweden.

Sell $1.5B

Seller(S) 1

SELLER

CapVest

London, United Kingdom
Category Private Equity Firm
Founded 1999
PE ASSETS 4.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

CapVest is a UK-based private equity firm that targets investments in mid-market businesses across Europe. CapVest focuses on profitable companies with growth potential and strong management. Specific areas of interest include food/beverages (especially frozen food sector), healthcare, real estate, retail, media, hotel/leisure, and telecommunication services. CapVest is affiliated with junior capital investor, MezzVest. CapVest was formed in 1999 and is based in London.

DEAL STATS #
Overall 11 of 11
Sector (Food) 7 of 7
Type (Secondary Buyout) 4 of 4
Country (Ireland) 2 of 2
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 Karro Food Group

Malton, United Kingdom

Karro Food Group is a vertically integrated British pork producer. Karro supplies fresh pork and cured, cooked, and frozen meats to retail, foodservice and manufacturing customers and key export markets including the US and China. Karro Food Group is based in Malton, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-21 Rodericks Dental

Northampton, United Kingdom

Rodericks Dental is a provider of NHS, private and specialist dental services and owns 71 practices in England and Wales. Rodericks Dental was founded in 1984 and is based in Northampton, United Kingdom.

Buy -
Mergr

Product

Company

Legal