ARCUS acquired by ALTIA

BGH Capital acquired a controlling stake in Laurent Bakery Group. The transaction involved the exit of a silent co-investor and the reinvestment of founder Laurent Boillon, who remained a significant shareholder and Director. The strategic rationale for the deal is the massive growth potential of the group’s wholesale division, particularly its national supply contract with Coles. BGH aims to capitalize on the shift in Australian consumer preferences toward high-quality, traditional French baking, which was previously underserved in the mass market. By providing fresh capital and management expertise, BGH intends to expand the group's manufacturing footprint and optimize its national logistics network. This partnership allows the founder to focus on product quality and brand DNA while the private equity firm professionalizes the corporate structure. This deal highlights the continued interest of private equity in "recession-proof" consumer staples that possess both a strong retail identity and a scalable industrial engine.

Biscuit International acquired Continental Bakeries from Goldman Sachs Asset Management. This "transformational" deal allows the group to effectively double its size, increasing revenue from EUR530 million to over EUR900 million. The combined entity employs 4,500 people and operates 33 factories with a production capacity of 300,000 tons per year. The transaction was financed through a capital increase subscribed by Platinum Equity and the management team, alongside new debt facilities. The deal creates an undisputed pan-European giant with over 80% of sales generated outside France.

3i Group has invested in Dutch Bakery, a bakery group specialized in home bake-off bread and snack products, to support the company's international growth strategy in the fragmented European private label market for bake-off products. The investment by 3i Group will enable Dutch Bakery to strengthen its leading position in the Dutch market and expand its activities internationally. The company's growth strategy will be based on a combination of organic growth and external development, including targeted acquisitions. 3i Group will provide its expertise and support to the management team of Dutch Bakery to help the company reach its full potential and achieve its growth objectives.

Ardian has acquired a majority stake in Florida Food Products (FFP) from MidOcean Partners. Under the terms of the agreement, MidOcean, which first invested in FFP in 2018, will retain a significant minority equity stake alongside Ardian. The partnership aims to accelerate FFP's strategic plan through further investment in R&D, infrastructure, and acquisitions to expand its portfolio of natural ingredient solutions. The deal represents a major exit and reinvestment for MidOcean, validating the rapid growth of the clean label sector.

Lionel Wolberg, leading a prominent financial consortium comprising FrenchFood Capital, Bpifrance, and Tikehau Capital, has successfully completed the acquisition of Markal. This strategic corporate transmission represents a major milestone for the Drôme-based pioneer, which boasts an established revenue profile of EUR 68 million and a workforce of approximately 70 employees. The transaction architecture was structured to ensure long-term corporate stability and continuity, with the historical founding Markarian family rolling over a portion of their assets to retain a meaningful minority stake alongside the new ownership. Strategic rationale for this buyout includes the professionalization of Markal's leadership and the institutionalization of its extensive sourcing and distribution capabilities. By appointing Lionel Wolberg as President, the company gains access to deep sector expertise and significant financial backing from dedicated agri-food and institutional investment funds. The incoming capital and strategic guidance will be deployed to accelerate Markal's product innovation pipeline, reinforce its sustainable agricultural partnerships, and scale its commercial footprint across specialized European organic retail networks and international export channels.

DSM has entered into a definitive agreement to acquire First Choice Ingredients. This acquisition strategically expands DSM's Food & Beverage offering by adding a leading position in the US savory dairy flavor market. The deal allows DSM to leverage its global distribution network to accelerate First Choice Ingredients' growth outside the US, while integrating their proprietary fermentation technologies into DSM's existing portfolio of enzymes and cultures.

Pilgrim's Pride has agreed to acquire the Meats and Meals business of Kerry Group plc. This acquisition adds a portfolio of high-margin, value-added brands to Pilgrim's existing UK operations. It allows Kerry Group to exit the lower-growth consumer foods segment to focus on its core taste and nutrition business.

Kerry Group has reached an agreement to acquire Niacet Corp. from SK Capital Partners and other shareholders.This acquisition integrates Niacet's leadership in preservation technologies—particularly in Bakery and Pharma—into Kerry's global food protection platform. The deal is strategically aligned with Kerry's focus on food safety and waste reduction. Niacet's complementary portfolio of conventional organic acids and clean label solutions will enhance Kerry's ability to serve the growing market for food preservation, including plant-based alternatives. The transaction is expected to be accretive to adjusted EPS in year one.

Equinox acquired a 63% majority stake in Gruppo Salpa. The founding family (Cherubini) sold their shares but reinvested significantly to retain a 35% stake, while the management team holds the remaining 2%. The transaction implies a high valuation multiple. The auction process was highly competitive, attracting interest from major industrial players (Barry Callebaut, Dr. Oetker) and numerous private equity funds (Investindustrial, NB Renaissance, Riverside). The new ownership plans to expand production capabilities and pursue acquisitions in the "Decoration & Covers" segment, with a specific focus on entering the United States.

Olam Food Ingredients completed the acquisition of the U.S. spices blender Olde Thompson. Rationale underscores transformative synergies: OFI's farm-gate origination and sustainable spice chain merges with Olde Thompson's blending mastery and customer intimacy, unlocking comprehensive natural flavour portfolios amid surging demand for traceable retail staples. Timing leverages post-pandemic pantry-loading and clean-label acceleration; post-deal goals encompass expanded offerings, retail value co-creation, and EBITDA synergies via optimized supply.