LIBERTE acquired by YOPLAIT

Frutarom completed the acquisition of 75% of the share capital of PTI with a call option exercisable by Frutarom within three years to acquire the remaining 25%. PTI, which generated about USD 111 million in sales in 2012, operates two production sites near Moscow and a Moscow‑based R&D, sales, and marketing hub plus 25 distribution centers across Russia and neighboring countries, making it a regionally strategic platform in the savory and processed‑meat ingredients segment. The founders and key managers retain management roles and minority equity stakes, ensuring continuity and cultural alignment, while Frutarom leverages PTI’s assets to expand its savory‑flavor and functional‑ingredients range, strengthen its production and distribution infrastructure in Russia, and deepen its position in both developed and emerging markets. Synergies are expected to arise from cross‑selling, shared R&D, and joint product development, as well as from rationalization of certain supply‑chain and logistics activities, consistent with Frutarom’s broader strategy of being a preferred global partner in tasty and healthy food solutions.

Equistone Partners Europe acquired a majority stake in Europeenne des Desserts from Cerea Partenaire and Azulis Capital. The previous financial sponsors, along with the management team, reinvested for a minority stake. The transaction was valued at an Enterprise Value slightly above EUR100 million. The strategic plan focused on accelerating international growth.

Equistone Partners Europe has acquired a majority stake in Charles & Alice from historical investor CM-CIC Capital Finance (which retained a minority stake). The transaction allowed the management team, led by Thierry Goubault, to significantly increase its equity participation from 15% to 26%. The deal was supported by a diversified financing package, including senior debt, mezzanine debt, and a dedicated CAPEX line to fund future industrial investments and international expansion. This LBO marks the next phase of growth for the fruit dessert specialist, aiming to transition from a French champion to a global player in the healthy snacking industry.

Investcorp has acquired Tyrrells Potato Crisps from Langholm Capital for �100 million. The transaction provides an exit for Langholm, which had backed the founder William Chase in 2008. Investcorp's investment thesis focuses on accelerating Tyrrells' international expansion. While the brand is well-established in the UK, Investcorp identifies significant white space in Europe and North America for premium "English" snacks. The plan involves increasing distribution channels abroad and potentially exploring bolt-on acquisitions to broaden the product range.

IK Investment Partners has agreed to acquire a majority stake in Savena from French private equity funds Cerea Capital and Azulis Capital. This transaction marks the beginning of a major consolidation phase for the company (which would later merge with SFK to become Solina). The management team reinvests in the transaction (having previously held 22.5%). The deal is driven by an ambitious growth strategy to double the company's size by 2016 through international external growth. Financing is provided to support acquisitions in Europe and emerging markets like Russia and China.

General Mills has signed definitive agreements to acquire a 51% controlling interest in Yoplait S.A.S. and a 50% interest in the entity holding the worldwide brand rights. The stake was acquired from private equity firm PAI Partners and the French dairy cooperative Sodiaal. Sodiaal will retain the remaining 49% stake, effectively forming a global joint venture. This transaction resolves a long-standing arbitration between General Mills and Yoplait regarding the US licensing rights.

MCH Private Equity acquired 18% stake in Europastry in a transaction that allowed for the exit of the historical shareholder Vall Companys (which previously held 24%). Concurrently, the founding Gallés family increased their majority stake to 80%, reaffirming their long-term commitment. The deal was supported by a €200 million syndicated loan to restructure the company's debt and provide the "dry powder" necessary for its global buy-and-build strategy. This investment marked the beginning of a 15-year partnership that saw Europastry's revenue grow five-fold, transforming it from a national champion into one of the top five global players in the frozen bakery market.

Advent International has entered into a definitive agreement to acquire Provimi Pet Food from the Provimi Group. This transaction is structured as a corporate carve-out, separating the consumer-focused pet food business unit from the parent organization's core B2B animal nutrition operations. Following the completion of the transaction, Advent International will rebrand the standalone entity as "Partner in Pet Food" (PPF). The closing of the transaction remains subject to customary regulatory approvals and mandatory works council consultations. The acquisition positions the business under a dedicated consumer-focused sponsor to drive its next operational phase. The post-closing growth strategy engineered by Advent International will focus on accelerating product innovation cycles across the company's manufacturing lines. Additionally, the sponsor will back the company's geographic expansion strategy to increase its market share and distribution footprint across Western European commercial channels.

LBO France entered into exclusive negotiations to acquire a majority stake in Materne-Montblanc from the private equity firm Activa Capital. This Secondary LBO was negotiated directly between the parties, bypassing a broad industrial auction process because the management team explicitly favored a financial partner to continue their independent adventure. The deal is predicated on two major value creation strategies. First, international expansion: the group aims to transition from exporting products to the US to establishing local manufacturing capabilities (building a factory) to serve the massive American market. Second, brand synergies: the new shareholders plan to revitalize the lagging Montblanc brand by applying Materne's packaging innovation—specifically, launching Montblanc dairy desserts in the successful pouch format.

AXA Private Equity acquired a majority stake in Diana Ingredients from Cognetas (now Motion Equity Partners). The transaction valued the company at an Enterprise Value of EUR710 million. This Secondary Buyout (SBO) was driven by the thesis of consolidating the fragmented natural ingredients market. The deal structure involved investment from two of AXA's funds (Fund III and Fund IV). The seller, Cognetas, having achieved a significant return, reinvested to keep a minority stake.