DCC, the energy-to-technologies conglomerate, has agreed to sell its Robert Roberts and Kelkin food businesses to Valeo Foods, the owner of the Jacobs biscuit brand, for €60 million. The deal, which was announced to the stock market this morning, is subject to clearance from the Competition Authority.

Robert Roberts, best known for its coffee brand but which also includes the Findlaters DCC’s wine distribution operation, and Kelkin, which specialises in health foods, combined have sales of €120 million and generate about 80 per cent of the profits of DCC’s food division.

"Robert Roberts, Findlater Wine & Spirits and Kelkin have a long and successful history in the Irish market and we expect them to continue to grow and develop under Valeo Foods' ownership," said Tommy Breen, DCC's chief executive.

DCC’s food division has under-performed in recent times, compared to the rest of the group. According to sources, it had been on the market unofficially for some time.