The Group has agreed to acquire 100% of Prestige-96 AD, a Bulgarian manufacturer of biscuits, wafers and sweet baked goods. The deal, announced on 19 March 2026, marks the Irish-headquartered group's eighth acquisition since 2022 and its first in Bulgaria.

Founded in 1996, Prestige-96 employs around 450 people and holds leading positions in the Bulgarian biscuit, wafer and mini cake categories. Its portfolio includes the brands Naya, Hyper, Mirage, Roden Kray, Trayana, Spoko and Prestige Wellness. The company also exports to more than 30 countries.

The deal is worth noting for a specific reason: Prestige-96 operates what Valeo describes as a modern, well-invested production and warehousing facility. The acquisition is partly justified on the basis of that manufacturing capacity, adding operational flexibility to Valeo's network of 30 facilities across the UK, Ireland, Italy, Germany, the Netherlands, Central and Eastern Europe, and North America.

Valeo Foods, which is owned by Bain Capital and generates revenues close to €2 billion, has built its portfolio through acquisition of established local brands rather than greenfield manufacturing. Its existing portfolio spans Balconi cakes, Kettle Chips, Rowse Honey, Barratt sweets, Horalky and Lina wafers, among others, with over 80 brands in total and more than 5,500 employees.

The strategic rationale cited for the Prestige-96 deal includes cross-selling within existing retail channels, expansion into adjacent snacking categories, and the use of both businesses' export networks to access new markets. Darina Stoyanova remains as CEO of Prestige-96 following completion, with the local management team expected to continue in place.

Completion is subject to regulatory approval in Bulgaria. Financial terms have not been disclosed.