EM FOODS acquired by NEWPRINCES GROUP

Routin-1883 acquired 100% of Cappuccine to accelerate its footprint in the North American market, the world's largest for coffee shops and mixology. This acquisition marks Routin's third external growth operation since Apax's entry in 2019 (following Eyguebelle and Artonic). The deal was financed through a mix of equity and debt (LCL, Credit Agricole). By integrating Cappuccine's powdered mix expertise, Routin diversifies its product portfolio to offer a complete "one-stop-shop" solution for coffee chains and the Foodservice industry globally.

PAI Partners acquired a majority stake in La Compagnie des Desserts. The transaction marks the exit of Argos Wityu (realizing a 3.1x multiple). The goal is to capitalize on the outsourcing trend in the restaurant sector (lack of skilled pastry labor) and pursue further acquisitions in the UK and Spain.

Brown‑Forman Corporation has completed the acquisition of the Diplomático Rum brand and its associated corporate assets from Destillers United Group S.L.. The transaction structure transfers full brand ownership alongside a dedicated aging, bottling, and shipping production facility located in Panama. As part of the closing integration, the purchasing group integrates more than 100 employees into its global corporate workforce. Under the terms of the agreement, Destillers United Group S.L. will retain manufacturing operations, continuing to produce and age the rum line at its original distillery located at the foot of the Andes mountains. The transaction secures the buying group's entry into the fast-growing super-premium and ultra-premium rum categories, adding an established global market leader to its core spirits portfolio. The post-closing commercial strategy leverages a mature brand asset that maintains active distribution networks across more than 100 countries, with primary market penetration established throughout France, Germany, and the United States. The growth roadmap focuses on scaling international distribution channels to expand global market share, utilizing Brown-Forman’s corporate infrastructure to accelerate volume growth across the brand's three core product segments, which include its traditional, prestige, and limited-run distillery collections.

Kerry Group entered into exclusive negotiations to divest its Sweet Ingredients Portfolio to IRCA, a portfolio company of the global private equity firm Advent International. This transaction represents a strategic move for Kerry Group to refine and enhance its core Taste & Nutrition business. By divesting the sweet ingredients assets, Kerry aims to sharpen its focus on higher-value and more strategic areas of its portfolio, aligning its resources with segments where it can generate the most significant value. The proceeds from the sale are intended for general corporate purposes and to fund the continued strategic development of its primary business divisions. For the acquirer, IRCA, the deal is a transformative step in its growth strategy under Advent International's ownership. The acquisition is highly complementary, adding a differentiated set of technologies and expanding IRCA's product capabilities. It significantly strengthens IRCA’s footprint, particularly in the United States, and accelerates its goal of becoming a truly global leader in the semi-finished food ingredients market. This transaction is part of a broader buy-and-build strategy orchestrated by Advent to create a dominant player in the sector, marking the third major acquisition for IRCA since Advent's initial investment.

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.

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.

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. 

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.