MARKAL acquired by FRENCH FOOD CAPITAL, BPIFRANCE & TIKEHAU CAPITAL

BGH Capital acquired a controlling stake in Laurent Bakery Group. The transaction involved the exit of a silent co-investor and the reinvestment of founder Laurent Boillon, who remained a significant shareholder and Director. The strategic rationale for the deal is the massive growth potential of the group’s wholesale division, particularly its national supply contract with Coles. BGH aims to capitalize on the shift in Australian consumer preferences toward high-quality, traditional French baking, which was previously underserved in the mass market

Biscuit International acquired Continental Bakeries from Goldman Sachs Asset Management. This "transformational" deal allows the group to effectively double its size, increasing revenue from EUR530 million to over EUR900 million. The combined entity employs 4,500 people and operates 33 factories with a production capacity of 300,000 tons per year. The transaction was financed through a capital increase subscribed by Platinum Equity and the management team, alongside new debt facilities. The deal creates an undisputed pan-European giant with over 80% of sales generated outside France

3i Group has invested in Dutch Bakery, a bakery group specialized in home bake-off bread and snack products, to support the company's international growth strategy in the fragmented European private label market for bake-off products. The investment by 3i Group will enable Dutch Bakery to strengthen its leading position in the Dutch market and expand its activities internationally. The company's growth strategy will be based on a combination of organic growth and external development, including targeted acquisitions

Altia Oyj completed a merger‑of‑equals transaction with Arcus ASA on September 1, 2021, resulting in the dissolution of Arcus ASA into Altia and the creation of a new combined entity, Anora Group Plc, headquartered in Helsinki. The deal was structured as a full‑capital‑stock merger: Arcus shareholders received 0.4618 new Altia shares for each existing Arcus share, with Altia issuing approximately 31.4 million new shares, leading to a post‑combination ownership split of 53.5% for former Altia shareholders and 46

DSM has entered into a definitive agreement to acquire First Choice Ingredients. This acquisition strategically expands DSM's Food & Beverage offering by adding a leading position in the US savory dairy flavor market. The deal allows DSM to leverage its global distribution network to accelerate First Choice Ingredients' growth outside the US, while integrating their proprietary fermentation technologies into DSM's existing portfolio of enzymes and cultures.

Ardian has acquired a majority stake in Florida Food Products (FFP) from MidOcean Partners. Under the terms of the agreement, MidOcean, which first invested in FFP in 2018, will retain a significant minority equity stake alongside Ardian. The partnership aims to accelerate FFP's strategic plan through further investment in R&D, infrastructure, and acquisitions to expand its portfolio of natural ingredient solutions. The deal represents a major exit and reinvestment for MidOcean, validating the rapid growth of the clean label sector

Spanish food group Ebro Foods has entered into an agreement to divest its French dry pasta, couscous, semolina, and sauce business, which is consolidated under the Panzani brand, to CVC Capital Partners. This transaction is part of Ebro's strategy to refocus on its core activities, particularly in the fresh pasta and higher-value-added product segments. The sale process, which was managed through a competitive auction led by investment banks, attracted several industrial players and investment funds before CVC was selected as the buyer

Pilgrim's Pride has agreed to acquire the Meats and Meals business of Kerry Group plc. This acquisition adds a portfolio of high-margin, value-added brands to Pilgrim's existing UK operations. It allows Kerry Group to exit the lower-growth consumer foods segment to focus on its core taste and nutrition business.

Kerry Group has reached an agreement to acquire Niacet Corp. from SK Capital Partners and other shareholders.This acquisition integrates Niacet's leadership in preservation technologies—particularly in Bakery and Pharma—into Kerry's global food protection platform. The deal is strategically aligned with Kerry's focus on food safety and waste reduction. Niacet's complementary portfolio of conventional organic acids and clean label solutions will enhance Kerry's ability to serve the growing market for food preservation, including plant-based alternatives

Equinox acquired a 63% majority stake in Gruppo Salpa. The founding family (Cherubini) sold their shares but reinvested significantly to retain a 35% stake, while the management team holds the remaining 2%. The transaction implies a high valuation multiple. The auction process was highly competitive, attracting interest from major industrial players (Barry Callebaut, Dr. Oetker) and numerous private equity funds (Investindustrial, NB Renaissance, Riverside). The new ownership plans to expand production capabilities and pursue acquisitions in the "Decoration & Covers" segment, with a specific focus on entering the United States