NVM sells It's All Good to CapVest-backed Valeo Foods

NVM acquired its minority stake in IAG for £3.5m in June 2014, investing from its Northern VCT vehicle. The GP sold its venture capital trust business to Mercia Asset Management for up to £25m in December 2019.

IAG managing director Calum Ryder was previously backed by NVM during his tenure as managing director of Union Snack, before going on to establish IAG.

The acquirer, Valeo, was founded by CapVest in 2010, following the acquisition of Batchelors and Origin Foods. Since then, the group has bolted on several food manufacturers, including Jacob Fruitfield Food Group in 2011; UK honey brand Rowse in 2014; Italian bakery business Dolciaria Val d'Enza and Finnish food business Raisio in 2017; and Tangerine Confectionery in 2018. IAG will be Valeo's 15th acquisition, according to Valeo's website.

The sale value of IAG was undisclosed.

Company
Founded in 2012, IAG is a snack food manufacturer based in Gateshead, UK. Its main product line is tortilla chips brand Manomasa, but it also makes retailer-branded tortilla chips, rice cakes and pitta chips.

IAG has a turnover of £37m and employs 250 people.

Advisers
Equity – Houlihan Lokey (corporate finance); Muckle (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• Consumer
• Exits
• UK / Ireland
• CapVest Equity Partners
• NVM Private Equity
• Houlihan Lokey