Valeo Foods Group has agreed a deal to buy Campbell Soup Company's European crisps business for about £66m.
The business includes Kettle Foods Limited and its sister company Yellow Chips.
Kettle Foods manufactures and distributes hand cooked crisps under the Kettle and Go Pure brands, as well as Metcalfe's Skinny Popcorn, which are sold across the UK, Europe and the Middle East.
On completion, Kettle Foods will join Valeo Foods' portfolio of consumer brands including Rowse Honey, Barratt, Jacob's, Fox's Glacier Mints and Balconi.
Valeo Foods, which was established in 2010, said the deal will add about €115m to its current annual sales of over €850m.
The company has completed 12 acquisitions over the past nine years and employs over 3,000 people worldwide.
It operates across four strategic growth platforms of significant size and scale comprising Valeo Ireland, Valeo UK, Valeo Europe and Valeo Confectionery.
Valeo said the deal is still subject to customary closing conditions including relevant regulatory approvals.
It said the deal will add about €115m to Valeo Foods' current annual sales of over €850m.
"The global snacking segment continues to grow and the proposed acquisition of Kettle Foods provides a great opportunity to further strengthen our expanding portfolio of international brands," commented , Seamus Kearney, CEO of Valeo Foods.
"This acquisition is consistent with our long-term goal of building a dynamic international portfolio of attractive, resilient and popular food brands that consumers love to enjoy," he added.