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Valeo Foods Group has agreed to acquire 100% of Prestige-96, marking its latest move to strengthen its position in Europe’s competitive sweet treats and snacking sector.

The deal will see the international food business add one of Bulgaria’s most established producers of biscuits, wafers and sweet snacks to its portfolio. Founded in 1996, Prestige has built a strong domestic presence with well-known brands including Naya, Hyper, Mirage and Roden Kray, and employs around 450 people.

This represents Valeo Foods’ eighth acquisition since 2022, aligning with its strategy of scaling through the addition of established, local brands across Europe.

The group, which already manages more than 80 brands and generates close to €2 billion in revenue, is seeking to deepen its footprint in Central and Eastern Europe while broadening its category reach.

Ronald Kers, CEO of Valeo Foods Group, commented: "Prestige is an exceptional business with outstanding brands, a strong market position, and a highly capable team. By combining Prestige’s category expertise with the scale of the Valeo Foods network, we see significant opportunities to accelerate growth, expand into new markets and bring even more loved products to consumers across Europe.”

The deal also opens the door to expansion into adjacent snacking categories and provides a platform for increased international distribution.

Prestige’s existing export network, spanning more than 30 countries, is expected to complement Valeo’s own distribution capabilities, supporting further penetration into both established and new markets.

In addition to brand and market synergies, Prestige brings a modern production and warehousing facility, which Valeo Foods says will enhance capacity, operational flexibility and efficiency across the group.

Kers continued: “This acquisition is a clear investment in long term, sustainable growth, adding capabilities that naturally enhance our core business. We look forward to welcoming the Prestige team as we grow together.”

Darina Stoyanova, CEO of Prestige 96, said: “Joining Valeo Foods gives us an even stronger platform to build on that success. By combining Prestige’s much-loved brands with Valeo Foods’ international scale and capabilities, we see tremendous potential to grow our business, reach new markets and continue delivering the products consumers love.”

Completion of the deal remains subject to customary regulatory approvals in Bulgaria. Financial terms have not been disclosed.