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M&A

CPRO FOOD

Acquired by

ALPHAPET VENTURES

BELGIUM Food Processing REV [1m EUR - 100m EUR] 03/2026

Target

CPRO FOOD

Acquirer

ALPHAPET VENTURES

Context

AlphaPet Ventures has completed the acquisition of 100% of Cpro Food, marking its fifth strategic acquisition since 2020. This transaction serves as AlphaPet’s primary entry point into the Belgian market, a high-value territory for premium pet nutrition. The strategic rationale centers on integrating Cpro Food’s strong local brand equity and breeder network into AlphaPet’s European digital platform. The acquisition was financed through a combination of equity, led by Patria Investments and Venture Stars, and debt provided by CVC. A key element of the deal is the retention of the founding Germeau sisters, who will continue to lead the brand’s next growth phase to ensure continuity for customers and partners. This merger reinforces AlphaPet's position as a dominant European consolidator in the pet food industry, utilizing its tech-enabled platform to accelerate Cpro Food’s internationalization while maintaining its high-quality Belgian manufacturing standards.

Target

Cpro Food, founded in 2014, is a leading Belgian "Local Hero" in the super-premium dog and cat food market. The company specializes in high-quality dry food, wet food, and snacks characterized by Belgian origin and stringent quality standards. Its business model relies on a specialized distribution network, with products listed in over 370 pet specialty stores and used by more than 1,150 professional breeders. Cpro Food focuses on the "premiumization" trend, targeting health-conscious pet owners who prioritize nutritional transparency and regional sourcing. By maintaining a strong brand identity within the Belgian niche, the company has secured a market-leading position in one of Europe’s pet food markets with the highest share of premium products.

Ent. Value

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Equity Value

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Multiples Analysis

EV / Revenue

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2026
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2025
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Other operations with CPRO FOOD