W. P. Carey finalises food production portfolio sale-leaseback

W. P. Carey has finalised an €88 mln sale-leaseback deal in July 2025, involving six crucial food production facilities totalling around 120,774 m2.

Valeo Foods

These facilities are located in the U.K. (3), the Czech Republic (2), and Slovakia (1). The tenant is Valeo Foods Group, an Ireland-based food producer and distributor, which markets its 5,700+ products in over 100 countries, including popular brands like Rowse Honey and Kettle Chips. In 2021, Bain Capital acquired the company.
Each of these facilities serves as the exclusive production site for key brands such as Rowse Honey and Matthew Walker Puddings. These specialised facilities are difficult to replicate due to the substantial investment and strict regulatory requirements involved.
The agreement includes 25-year, triple-net master leases with built-in annual rent increases tied to CPI. Both W. P. Carey and Valeo Foods are dedicated to sustainability; Valeo Foods aims for a 42% reduction in operational emissions by 2030 and 100% renewable electricity by 2026.
Jolette Persson, senior VP, European Investments, W. P. Carey, said: “This transaction reflects our continued conviction in high-quality, mission-critical assets leased to market-leading tenants that operate in resilient industries. Valeo Foods’ international footprint, strong brand portfolio and growth trajectory make this an excellent addition to our portfolio. The structure and scale of the deal demonstrate our ability to deliver tailored capital solutions for corporates across multiple jurisdictions.”
Chelsea Mandel, founder and managing director, Ascension Advisory, added: "This was an exciting deal to lead, and we generated a great outcome for all parties. Working with W. P. Carey was a wonderful experience. Their professionalism, responsiveness and ability to execute complex, cross-border deals set them apart in today’s market."