NACTIS FLAVOURS acquired by AROMATAGROUP

Glanbia Nutritionals has acquired the Canadian flavor designer Foodarom for CAD $60 million (~USD $45 million). This acquisition aligns with Glanbia's strategy to grow its "Nutritional Solutions" (NS) division by adding complementary capabilities. Foodarom's expertise in custom flavors and masking agents is highly synergistic with Glanbia's core protein business: it allows Glanbia to sell not just the protein powder, but the entire flavored formulation (e.g., "Strawberry Whey Isolate" ready-to-mix) to its sports nutrition and lifestyle clients.

Royal DSM has reached an agreement to acquire the Erber Group, specifically its specialty animal nutrition and health businesses, Biomin and Romer Labs. Two smaller units of the Erber Group (Sanphar and EFB, representing 7% of sales) are excluded from the transaction. This acquisition provides DSM with a market-leading entry into mycotoxin risk management and expands its portfolio of high-value "Eubiotics" (gut health) solutions. The transaction is debt-financed and is expected to be earnings-enhancing in the first year.

Ardian has acquired a majority stake in Frulact from the founding Miranda family. The transaction values the company at approximately EUR150 million. The management team, led by CEO Duarte Faria, remains in place to drive the next phase of growth, while the founder retains a role as Non-Executive Chairman. Ardian's strategy is to use Frulact as a consolidation platform to build a global leader in natural food ingredients through acquisitions in adjacent niches.

Bemycompany Capital Partners has acquired an initial 8% minority interest in Acetaia Fondo Montebello, with a structured agreement to increase the position to 16% within the first quarter of 2020. This investment represents a classic growth capital transaction aimed at professionalizing the target’s corporate governance and accelerating its international expansion roadmap. The strategic rationale for the deal centers on providing the target with the necessary capital and managerial expertise to establish direct commercial branches in North America and to evaluate opportunistic acquisitions of other balsamic vinegar producers. By integrating financial resources with a network of seasoned entrepreneurs and managers, the holding company seeks to prepare the SME for an eventual public listing.

BC Partners agreed to acquire Pasticceria Bindi S.p.A. from its founding family owners, marking a significant strategic investment in the Italian frozen bakery sector. This transaction follows BC Partners' prior acquisition of Forno d’Asolo in 2018, underscoring the private equity firm's interest in capitalizing on the global appeal of high-quality Italian food products. The rationale for the acquisition is centered on accelerating Bindi's growth trajectory. BC Partners plans to support the company's management in pursuing an ambitious expansion strategy. Key initiatives include broadening the existing product portfolio, innovating with new patisserie items, and significantly growing international sales, particularly by leveraging Bindi's strong foothold in the United States. Furthermore, the acquisition positions Bindi as a platform for market consolidation through subsequent strategic acquisitions in Italy and abroad. For the Bindi family, the partnership with BC Partners ensures business continuity while providing the capital and strategic support necessary for robust international expansion. The existing management team, including the General Manager and a member of the founding family in a non-executive capacity, will remain to guide the company's future development and protect its brand legacy.

Nestle agreed to sell a 60% stake in Herta's charcuterie and dough business to Casa Tarradellas, creating a Joint Venture valued at EUR690 million. The new entity, incorporated in Spain, will be 60% owned by Casa Tarradellas and 40% by Nestle. The deal covers operations in six countries (France, Germany, Belgium, UK, Ireland, Luxembourg). Nestle explicitly retained the Herta vegetarian business to integrate it into its plant-based portfolio (Garden Gourmet), signaling a strategic pivot away from processed meats towards healthier alternatives.

Ardian acquired a majority stake in Cerelia from IK Investment Partners. During IK's tenure, Cerelia doubled its size via acquisitions (Bioderij, BakeAway, English Bay Batter). Ardian's investment thesis is built on stabilizing US margins and continuing the pan-European and transatlantic consolidation of the bakery sector.

Apax Partners Development acquired a majority stake in Routin following a competitive auction process managed by Transaction R. The transaction marked the exit of Credit Mutuel Equity as the majority shareholder, though they reinvested significantly to remain as a minority partner. The new investment cycle aims to leverage the international success of the "1883" brand in the coffee and cocktail markets.

Progressio SGR has acquired a minority stake in Polenghi Food S.p.A. from the founding family. The capital injection is aimed at accelerating the company's international growth, particularly in the United States (its largest market) and consolidating its leadership in Europe. The strategic plan also includes potential add-on acquisitions to expand the product portfolio and strengthen geographic presence.

Riello Investimenti SGR has acquired a 73% majority stake in Foodness S.p.A. The remaining capital is held by the founders (Paolo Fermi, Franco Lusetti, and Alberto Andrei), who retain their management roles, alongside industry veterans Mario Muttoni and Roberto Venturi. Additionally, a "Club Deal" of private investors organized by Pigreco Corporate Finance has co-invested in the transaction. This partnership aims to support Foodness's rapid growth trajectory (CAGR +40%) and consolidate its leadership in the "wellness" beverage niche within the HoReCa channel.