GIGI GELATO acquired by GREENYARD

3i Group has announced that Panelto Foods, a premier Irish bakery group specializing in artisan breads, will join the European Bakery Group, establishing a dedicated UK and Ireland operational platform within the pan-European entity. The European Bakery Group was originally formed in May 2023 via the strategic combination of Dutch Bakery, a market-leading Dutch group focused on home bake-off bread and snack products, and coolback, a German-based bake-off bread specialist. Following this transaction, Panelto Foods, Dutch Bakery, and coolback will serve as the three core pillars driving the enlarged group’s cross-border operations

Riello Investimenti Partners SGR has acquired a 75% majority stake in Il Fornaio del Casale S.p.A. The founding family retains a 25% minority stake and remains involved in the management. This is the seventh acquisition for the "Italian Strategy Private Equity" fund. The strategic rationale is to support the company's growth by expanding domestic distribution and, crucially, accelerating internationalization (exports). The deal structure leverages the target's strong brand positioning to enter new markets

3i Group plc continues the development of its European bakery platform through the combination of Dutch Bakery and coolback. Dutch Bakery is a leading producer of private-label bake-off bread and snack products, serving retail and foodservice customers across European markets. The transaction represents a key milestone in 3i’s original investment thesis. By combining Dutch Bakery and coolback, the business is rebranded as European Bakery Group, creating a pan-European platform focused on bake-off bread and snack products

Mademoiselle Desserts continues its external growth strategy by acquiring the pastry and ice cream activities of the Belgian company Galana. The transaction is structured as a carve-out, as Galana's seafood trading business is not included. The acquisition was financed through a mix of equity and bank debt.

SARIA acquired the entire issued share capital of Devro with an offer representing a substantial premium of approximately 67% to Devro's share price, reflecting SARIA's determination to delist this strategic asset. The deal creates a global powerhouse in the sausage casings market, combining Devro's collagen technology with SARIA's existing natural casings business (Van Hessen).

The acquisition of Royal Buisman by Nactarome is a strategic move to drive long-term growth, aimed at solidifying Nactarome's position in the natural ingredients market for the food and beverage industry. As a specialist in natural caramel ingredients, Royal Buisman brings a complementary offering to Nactarome's portfolio, with a range of products that cater to customers' needs in terms of flavor, color, and texture. This transaction enables Nactarome to expand its geographic footprint, particularly in Europe, and strengthen its network of key clients, with an increased presence in five new countries

Carlsberg has completed the acquisition of 100% of Waterloo Brewing's shares, aiming to bolster its presence in the Canadian market, where the group had previously maintained a relatively limited footprint. The integration of Waterloo Brewing enables Carlsberg to tap into a complementary portfolio of local beers, ciders, and ready-to-drink beverages, while leveraging strong regional brand recognition and an existing industrial infrastructure. The transaction also generates significant industrial and commercial synergies

Lucas Bols completed the acquisition of 100% of Fluère to strategically enter the rapidly growing non-alcoholic spirits market. This "bolt-on" acquisition allows Lucas Bols to capitalize on the "mindful drinking" trend, providing a sophisticated alcohol-free alternative to its global client base of professional bartenders and distributors. The transaction was structured to facilitate a seamless transition and integration, finalized by April 2023. By bringing Fluère into its portfolio, Lucas Bols can leverage its existing global distribution power and century-old expertise in flavor distillation to scale the brand internationally

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' investment in La Compagnie des Desserts, a specialist in frozen pastries and ice cream for professionals, is part of a broader strategy to expand geographically and diversify operations. With a workforce of 700 employees, the company aims to achieve revenues of 180 million euros by 2027, up from 117 million euros in 2022, driven by approximately 20 annual hires. This growth will be fueled by the development of new market segments, such as leisure, take-out sales, and dark kitchens, as well as entry into new geographic markets, including Scandinavia, Italy, Germany, and Austria, potentially through targeted acquisitions, thereby increasing its global footprint and broadening its customer base, with the ultimate goal of enhancing its financial performance and competitiveness in the industry