CENTRAL SUPPLIES acquired by KITWAVE GROUP

Bur Distribution has successfully completed the acquisition of Accent Bio from its co-founders, Nelly Lopez and Philippe Boulling, marking a transformative corporate milestone that effectively doubles the size of the Île-de-France-based group. This strategic build-up operation expands Bur Distribution's consolidated revenue.From a strategic perspective, this primary build-up transaction allows Bur Distribution to fundamentally reshape its category mix and accelerate its transition into the high-growth organic grocery sector. While Bur Distribution historically anchored its operations around traditional fine foods and premium delicatessen items via its Eric Bur and Rödel brands, the integration of Accent Bio introduces a turn-key portfolio of proprietary organic brands and deep sector expertise. This consolidation will unlock material operational, logistical, and commercial cross-selling synergies across their combined distribution networks, driving increased volume efficiency and positioning the consolidated platform as a primary counterparty for the broader French retail market.

Ecotone has successfully finalized the strategic acquisition of Danival, marking a high-profile consolidation milestone within the European and French organic agri-food industries. This transaction represents a complete shareholder transition, integrating Danival’s historic Andiran production facility, its dedicated local workforce of approximately 120 employees. From a strategic perspective, this build-up operation is highly complementary to Ecotone's existing asset architecture and aligns perfectly with its core mission to promote food biodiversity and alternative nutrition. By incorporating Danival, Ecotone significantly strengthens its operational and industrial footprint in France, acquiring a turnkey, specialized manufacturing asset in the Southwest region. The integration will unlock substantial commercial, logistical, and purchasing synergies across their combined networks, while allowing Danival's premium product categories to leverage Ecotone's scaled international distribution capabilities to accelerate market penetration and cross-border export expansion.

BNP Paribas Developpement invested EUR8.8 million to acquire a minority stake in Unipex. The management team, retains a two-thirds majority of the capital, while 5% is distributed to key managers. The deal is leveraged with a EUR27 million senior debt package arranged by Societe Generale. This operation allows the senior management (aged ~60) to realize some value while preparing the company for a full sale to a majority PE fund within 3-5 years.

Midsona acquired 100% of the share capital of Alimentation Santé from Panzani SAS. The transaction was structured via a definitive share purchase agreement executed on a debt-free and cash-free basis, with the total consideration settled entirely in cash at closing. To finance the acquisition, Midsona secured a short-term bank bridge loan, which was later refinanced through an equity rights issue backed by its majority shareholder, Stena Adactum AB. This acquisition enabled the immediate integration of Alimentation Santé into Midsona's expanding European network as a standalone operating entity. Long-standing Managing Director Marjolaine Cevoz Goyat retained her position at the operational helm to ensure continuity across regional business activities.

IMCD signed an agreement to acquire 100% of E.T. HORN Company, purchasing all outstanding shares. The acquisition strengthens IMCD's US operations by adding HORN's established West and Southwest regional presence to its existing national platform, moving IMCD closer to full national US coverage with dedicated segment expertise. The transaction is financed from IMCD's available cash and existing credit facilities.

Equistone Partners Europe has acquired a majority stake in Groupe Bruneau from Weinberg Capital Partners. The transaction was structured as a secondary MBO designed to accelerate the group's geographical expansion and European footprint. As a premier French digital-native B2B distributor of workplace furniture, equipment, and office supplies, Groupe Bruneau leverages a high-performing e-commerce platform and state-of-the-art logistics infrastructure serving a highly loyal SME customer base. Equistone's investment thesis focuses on partnering with the incumbent management team to scale operations internationally, primarily driving growth through a programmatic buy-and-build and market consolidation strategy across the European workplace solutions sector.

The acquisition of Alpine Fine Foods by Kitwave signifies a major territorial advancement for the group’s Foodservice division. The strategic logic of this transaction hinges on a "geographic-locking" maneuver, merging the target’s technical operational depth in the Humberside region with the acquirer’s established logistics framework and the existing footprint of Miller Food Service in York. This structural alignment provides the combined entity with the logistical hardware and category-specific talent necessary to address the increasing demand for integrated multi-temperature supply solutions in the North of England.

The transaction marks the third LBO for ECF Group, with Naxicap Partners acquiring a majority stake from Weinberg Capital Partners (WCP), Initiative & Finance, Salvepar, and Five Arrows. The deal followed a highly competitive auction process involving both financial sponsors (LBO France, Abénex, Florac, Gimv, Caravelle) and strategic bidders like Bunzl. The strategic rationale for Naxicap is to support the next phase of the group's international development and market consolidation. Since the previous LBO in 2011, the company successfully integrated the Australian leader Reward, significantly expanding its global footprint. A unique feature of this specific transaction is the inclusion of Saxod, one of ECF’s largest franchisees, which was acquired from the Saxod family as part of the perimeter of the new LBO. This integration aims to secure key distribution channels and harmonize the group's retail operations. Naxicap intends to leverage the company’s strong multi-channel model and logistics expertise to pursue further acquisitions in Europe and beyond, while maintaining the flexible portable debt package previously established.

The acquisition of the H B Clark by Kitwave signifies a major categorical advancement for the group’s Northern division. The strategic logic of this transaction hinges on a "sector-diversification" maneuver, merging the target’s technical operational depth in the alcoholic beverage market with the acquirer’s established logistics framework and national scale. This structural alignment provides the combined entity with the logistical hardware and category-specific talent necessary to address the increasing demand for consolidated supply solutions in the on-trade hospitality sector.

The acquisition of GDD by Perrigo marks a definitive move toward the professionalization of the organization’s North American distribution framework. The strategic logic for this transaction centers on an "in-housing" maneuver, merging the target’s specialized logistical operational depth in the non-mass retail sector with the acquirer’s vast manufacturing and product portfolio. This structural alignment provides the combined entity with the logistical hardware and market-specific talent necessary to eliminate third-party dependencies and optimize the flow of OTC goods into fragmented institutional channels.