MINISTRY OF CAKE acquired by MADEMOISELLE DESSERTS

Following an 18-month "marathon" process, Eurazeo acquired a portfolio of 14 brands from the US giant Mondelez. Eurazeo outbid PAI Partners and Katjes by proposing a robust industrial project. The transition required the creation of a new HQ, recruiting 230 people for corporate functions, and an ambitious EUR35M industrial investment plan—including the repatriation of Terry's production from Poland to Strasbourg. The goal was to transform these "orphan brands" into an autonomous French champion by tripling marketing spend and targeting a 15% EBITDA margin within 5 years.

Cérélia Group has acquired English Bay Batter from the Canadian investment holding Kilmer Van Nostrand. This transaction is a transformative step in Cérélia’s internationalization, shifting its revenue mix from 35% to 65% international (with North America representing a quarter of total sales). The acquisition was financed through a full debt refinancing of the group, covering 100% of the purchase price and allowing for an exceptional dividend payment to IK Investment Partners (representing 25% of the initial equity). Following the deal, the group’s leverage increased from 4.5x to 5.1x EBITDA. Pro-forma for the acquisition, Cérélia’s total turnover exceeds €400 million, solidifying its position as a global multi-specialist in the ready-to-bake and snack sectors.

The investment by Bridgepoint Development Capital in Vitamin Well marks a significant milestone in the company's growth journey, providing it with the necessary capital and expertise to further expand its market presence and accelerate its growth trajectory. The transaction, which is subject to merger clearance, is expected to close before the end of the first quarter of 2017, and will enable Vitamin Well to leverage Bridgepoint Development Capital's extensive network and expertise to drive its strategic growth initiatives. With its strong track record of investing in high-growth businesses, Bridgepoint Development Capital is well-positioned to support Vitamin Well's ambitions, and the partnership is expected to create significant value for all stakeholders. The investment will also enable Vitamin Well to enhance its product offerings, expand its distribution channels, and strengthen its market position, ultimately driving long-term growth and profitability.

Charterhouse Capital Partners acquires Optima / Mec3, a global leader in artisanal ice cream ingredients with a 12% market share, in a deal valued at an estimated EUR400 million, outbidding Permira, Cinven, Carlyle, and Froneri (Nestle/R&R). Charterhouse is investing through its EUR2.3 billion Fund X, marking its third Italian deal in three years.

Meeschaert Capital (now Meanings Capital Partners) entered Compagnie Coloniale’s capital through a minority growth‑equity investment of EUR 1 million, providing “new money” to support the company’s commercial redeployment and international expansion. The transaction is structured as a minority stake in the tea producer, with Meeschaert partnering alongside existing shareholders, including the Balay family, who retain control of the business. The proceeds are intended to finance a renewed commercial offensive, notably through the strengthening of export channels, marketing initiatives, and brand‑building activities aimed at restoring the historical visibility and reputation of the Compagnie Coloniale name. The group’s century‑old tea heritage, combined with its own production capabilities near Poitiers, allows it to control key steps in the value chain, from sourcing and blending to packaging, while maintaining a relatively small but high‑quality output profile. The investment follows a turbulent chapter in the company’s trajectory, including periods within larger industrial groups, a restructuring under Vincent Balay, and a brief public listing followed by a delisting, which has left the platform in a position to benefit from fresh capital and specialized sponsor support.

Groupe Bel entered into exclusive negotiations to acquire a majority stake in MOM Group from the private equity firm LBO France. The current management team will remain in place and retain a minority shareholding, ensuring a degree of operational autonomy for MOM within the larger Bel group. This transaction concludes a secondary LBO initiated in 2010. LBO France had previously received interest from other financial sponsors and industrial players but chose to hold the asset longer to maximize the value created by its US expansion.

Investcorp has agreed to sell Tyrrells to the US-based Amplify Snack Brands. This exit marks the culmination of a highly successful three-year holding period for Investcorp, during which sales and EBITDA more than doubled. The value creation strategy focused on aggressive international expansion (international sales grew from 20% to 40% of total) and product diversification beyond potato crisps into popcorn and vegetable chips. For Amplify, buying Tyrrells instantly provides a global platform to launch its own US brands (like SkinnyPop) into Europe and Australia.

Danone has entered into a definitive merger agreement to acquire The WhiteWave Foods Company in an all-cash transaction. Under the terms of the agreement, Danone will acquire all outstanding shares of WhiteWave for $56.25 per share. The transaction is fully funded through debt, with Danone confident in maintaining its strong investment-grade credit rating. This strategic combination doubles the size of Danone's US business and positions the company as the global leader in organic foods and fresh dairy products. The deal is expected to deliver $300 million in EBIT synergies by 2020 and be accretive to earnings in the first year.

Wessanen, the Dutch listed organic food group and parent company of Distriborg in France, agreed to acquire Ineobio and its Destination brand in a full‑capital transaction following a process conducted exclusively with industrial buyers. The acquisition is structured as a strategic bolt‑on aimed at strengthening Wessanen’s leadership in organic beverages and expanding its coffee offering, where the group already had a presence through brands such as Alter Eco and Bonneterre. The deal fits Wessanen’s broader strategy of building sustainable food and beverage segment, leveraging organic, healthy, and responsible sourcing credentials to reinforce its European footprint. For the acquirer, Ineobio adds complementary expertise in coffee and tea procurement, formulation, and manufacturing, while also providing an avenue to deepen penetration in specialist organic stores and export channels.

Hana Group, backed by its institutional financial sponsor TA Associates, has completed the strategic cross-border acquisition of Peace Dining Corp from its founder, Josh Onishi. Peace Dining Corp operates as a pioneer in the North American and British grocery retail concession markets, managing an extensive network of roughly 200 Asian culinary kiosks across high-end grocery chains, notably Whole Foods Market, under the Genji, Mai, and Wok Street Kitchen brands, alongside a dedicated B2B catering division. Under the transaction terms, Josh Onishi will maintain continuity of localized operations, retaining his leadership role as Chief Information Officer (CIO) of Peace Dining Corp within the United States. The investment thesis centers on immediate operational scale-up, global market consolidation, and cost-efficient geographic expansion into highly mature international territories. By integrating Peace Dining Corp, Hana Group expands its consolidated footprint to 380 corporate-owned points of entry across seven countries—including France, the United Kingdom, Italy, Spain, Luxembourg, Belgium, and Portugal—while inheriting an established nationwide logistics platform in the United States. This infrastructure bypasses the need for multi-million euro greenfield logistics capital expenditures, immediately doubling the group's global revenue base and positioning the unified platform to leverage cross-border commercial synergies, accelerate its monthly opening cadence, and solidify its market leadership in the global grocery-retail food concession segment.