CAMPARI GROUP takes majority stake in WILDERNESS TRAIL DISTILLERY

Newlat Food has completed the acquisition of EM Foods and its manufacturing facility in Ludres from the German food company Dr. Oetker. This transaction marks Newlat's strategic entry into the baking mixes and dessert category, further diversifying its product offering. Crucially, the deal is underpinned by a significant long-term co-packing agreement with Unilever. Under this partnership, Newlat will become the exclusive supplier for a range of baking mixes under Unilever's iconic brands such as Carte d'Or, Mondamin, and Maizena. While Dr. Oetker retains ownership of the Alsa brand (transferring its production elsewhere), Newlat will utilize the remaining capacity at the Ludres plant to launch its own brand, Minuto, and expand its private label manufacturing for retailers across Europe.

Italian Wine Brands has completed the acquisition of 100% of Barbanera S.r.l. and Fossalto S.r.l. from the Barbanera family. This transaction marks a significant milestone in the buyer's consolidation strategy in the Italian wine market. The deal substantially strengthens Italian Wine Brands' portfolio of brands and its presence in the Tuscan and premium wine segments. By integrating Barbanera, the group gains a complementary commercial platform, an established international customer base, and recognized expertise in developing high-value-added wines. The acquisition also enhances the group's sourcing and production capabilities, while bolstering its position in several export markets. Beyond the expected commercial synergies, the acquisition enables Italian Wine Brands to improve its operational scale and expand its offering to international distributors and retailers. The Barbanera family remains committed to the industrial project by reinvesting a portion of the sale proceeds in Italian Wine Brands and continuing their collaboration with the group in sourcing wine raw materials. This continuity facilitates the integration of the business while preserving the historical relationships developed by Barbanera with its partners and suppliers.

Orkla Food Ingredients (OFI) has agreed to acquire 84% of Denali Ingredients from the founding family. The deal includes a potential earn-out ("top-up payment") based on future growth. The seller and CEO will retain a combined ~16% stake. This acquisition increases OFI's "Sweet Ingredients" vertical by 45% and provides a strategic foothold in the US market.

JDE Peet’s, a Netherlands‑based global coffee and beverage group listed on Euronext Amsterdam, acquired Les 2 Marmottes from FrenchFood Capital I in an all‑equity transaction structured as a 100% asset purchase. The deal represents JDE Peet’s first direct entry into the French herbal infusion market and complements its already extensive tea and coffee portfolio, which includes brands such as L’Or, Senseo, Tassimo, Jacques Vabre, and Grand’Mère. The acquisition is strictly accretive to the group’s strategic agenda of diversifying its beverage mix beyond coffee, a category that represents about 85% of JDE Peet’s revenues, while tea and infusions still account for a low single‑digit share of sales. Les 2 Marmottes brought to the group a proven track record of double‑digit growth, a national supermarket footprint, and a strongly differentiated brand rooted in natural ingredients and regional Alps identity. The transaction allows JDE Peet’s to rapidly scale its presence in the herbal tea segment, where Les 2 Marmottes has become the leading contributor to category growth in large‑scale distribution and the third‑largest brand by market share.

The acquisition of Boncolac and Mag'M by Waterland is a strategic move to create a leading player in the French frozen pastry market. The deal brings together two complementary companies, Boncolac and Mag'M, which will operate under a new holding company - renamed later ONORE. The combined entity will benefit from synergies in production, distribution, and marketing, enabling it to increase its market share and expand its product offerings. The acquisition is also expected to facilitate Boncolac's international expansion plans, particularly in Asia, Europe, and the United States, where Mag'M has an established client base. Waterland's investment will provide the necessary financial support to drive growth and expansion, while the firm's expertise in the food sector will help the combined entity navigate the challenges of the market. The deal is also supported by a banking syndicate, including Arkéa, Crédit Agricole, and LCL, which will provide the necessary debt financing to complete the transaction.

Groupe Chevrillon acquired a majority stake in Arcado, taking control of the French charcuterie group from its previous financial sponsors, including MBO & Co and Amundi PEF, while the founding Paget family retained a minority interest. The transaction was structured as a change of control in the mass‑market, IGP‑labelled sausage business, with managers reinvesting a portion of their proceeds to maintain alignment. The strategic rationale is anchored in Arcado’s position as a leading producer of premium IGP Charcuterie in the Franche‑Comté region, with a large share of the Morteau and Montbéliard sausage markets and a strong presence in large‑format retail. For Chevrillon, the platform offers a branded, label‑driven consumer‑facing asset in a resilient food category, with optionality for further external growth through bolt‑on acquisitions of other regional charcutiers or delicatessen producers holding IGP or other quality labels. The previous owners had already consolidated several regional players, including Clavière and Chambade, creating a consolidated, geographically coherent product portfolio that can serve as a basis for additional value creation. The strategic rationale is anchored in Arcado’s position as a leading producer of premium IGP Charcuterie in the Franche‑Comté region, with a large share of the Morteau and Montbéliard sausage markets and a strong presence in large‑format retail. For Chevrillon, the platform offers a branded, label‑driven consumer‑facing asset in a resilient food category, with optionality for further external growth through bolt‑on acquisitions of other regional charcutiers or delicatessen producers holding IGP or other quality labels. 

Premier Foods agreed to acquire 100% of The Spice Tailor shares on a cash-free, debt-free basis, marking a strategic bolt-on to its ethnic foods portfolio. Transaction facts highlight a full ownership transfer, funded via cash and committed facilities, with completion pending merger control clearance and structured earn-outs over three years tied to future sales performance. The strategic rationale resonates deeply with Premier Foods' growth playbook, leveraging its established branded growth model to amplify The Spice Tailor's momentum. Sector alignment is evident in the premium meal kits' synergy with Sharwood's and Loyd Grossman, both rooted in authentic accompaniments, while consumer shifts toward home cooking, premiumisation, and ethnic authenticity provide ideal timing. Post-deal objectives center on distribution expansion via Premier's retailer networks across the UK, Australia, Canada, and Ireland—particularly bolstering the acquirer's Australian footprint—and elevating marketing investment for heightened penetration.

Credit Mutuel Equity and Bpifrance invested a joint equity ticket of approximately EUR10 million to acquire a minority stake in Adial. The operation is structured as an Owner Buy-Out (OBO) around the President who took over the company in 2015 and retains the majority stake. The deal is supported by senior debt provided by CIC Nord-Ouest and Bred. The capital injection aims to support the company's hyper-growth (42% CAGR), triple its size within 5 years, and expand its "Gang of Pizzas" franchise. Strategic initiatives include launching a rental model for machines (shifting from Capex to Opex for clients) and diversifying into panini vending machines.

Advent International has acquired IRCA in a secondary buyout from The Carlyle Group, marking a significant transaction in the European food ingredients sector. Carlyle, which acquired a majority stake in 2017 and later increased its ownership, successfully executed a value creation strategy focused on internationalization and strategic acquisitions. During its ownership, Carlyle transformed IRCA from a primarily domestic Italian player into a leading European manufacturer with a growing presence in the United States. This was achieved through organic growth, investment in product innovation, and the key acquisition of Dobla, which expanded IRCA's product portfolio and global footprint. The transaction demonstrates the continued appetite of private equity for high-quality, resilient assets with strong market positions. Advent identified IRCA as a leader in a structurally growing and fragmented market. Advent's investment thesis is centered on continuing this growth trajectory by leveraging IRCA as a platform for further consolidation through meaningful acquisitions. The firm plans to partner with IRCA's existing management team to scale the business globally, expand into adjacent high-value product categories, and further penetrate key international markets. This deal underscores investor confidence in the B2B food ingredients space, which benefits from strong pricing power and consistent demand from professional end-markets.

Groupe Alliance acquired 100% of the equity in Berni from the owner family and its historical financial partner, Credit Mutuel Equity. The deal resolves a succession issue, as there was no third generation of the family to take over. Credit Mutuel Equity had backed the company since the late 1980s through three successive buyouts (1997, 2003, 2008). This acquisition allows Groupe Alliance to diversify its product portfolio into value-added cured meats.