KERRY SWEET INGREDIENTS acquired by IRCA & ADVENT INTERNATIONAL

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

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

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

Refresco has completed the acquisition of Avandis, a Dutch manufacturer of alcoholic beverages, from Lucas Bols and De Kuyper Royal Distillers, two leading players in the spirits and cocktail industry. The transaction was finalized in January 2023, following the signing of the initial agreement in October 2022 and the receipt of regulatory approvals. Avandis is a contract manufacturer specializing in the production of alcoholic beverages, headquartered in Zoetermeer, Netherlands. The company provides manufacturing solutions for spirits and cocktail brands, with a strong expertise in complex products and private-label productions

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

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

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.

Campari Group has entered into an agreement to acquire a 70% stake in Wilderness Trail Distillery, with a mechanism in place to acquire the remaining 30% in 2031 through a cross-option arrangement between the parties. Beyond the transaction's structure, this acquisition is a strategic move by Campari to establish bourbon as its second growth driver, alongside its historic business in apéritifs. The group aims to strengthen its presence in a high-growth category in the US, driven by premiumization and the rise of high-end and super-premium bourbons

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

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