The investor group is led by Hilliard Lombard, a former CEO of the Irish business.

Valeo Foods said the transaction would represent a “positive next step” for Valeo Foods Ireland, with the new owners said to have strong customer relationships and an ambition to support its development and growth.

The group is home to brands including Rowse, Kettle, Fox’s, Jameson’s and Metcalfe’s, while Valeo Foods Ireland owns brands such as Jacob’s (Ireland), Batchelors, Shamrock and Tuc.

Valeo Foods Ireland has been a part of Valeo Foods Group for 16 years, during which time the company said it had established a “leading position” in the Irish ambient food sector and made an important contribution to the development and success of the wider group.

The sale follows investment in recent years across the company’s Naturally Sweet (Honey and Maple Syrup), Confectionery and Sweet Bakery platforms, with the aim to enable the group to concentrate its resources and investment behind these areas of growth.

The transaction will not mark the end of the relationship between Valeo Foods Group and Valeo Foods Ireland. The groups said they intend to maintain a close commercial relationship following completion, including the continued distribution of Valeo Foods’ international brand portfolio in Ireland.

Completion of the transaction will be subject to customary regulatory approvals in Ireland, and the financial terms of the transaction will not be disclosed.