ONORE
Acquired by
IDAK FOOD GROUP
ONORE acquired by IDAK FOOD GROUP
Target
ONORE
Acquirer
IDAK FOOD GROUP
Context
IDAK Food Group entered exclusive negotiations to acquire a majority stake in Onore from Waterland Private Equity and the management team. The transaction creates a diversified European leader in premium frozen food, combining IDAK's strengths in Switzerland and Italy with Onore's leadership in France and the UK. The management of Onore will reinvest in the new structure and continue to lead the division. The deal is expected to close in H1 2026 and represents IDAK's third major acquisition under TowerBrook's ownership.
This transaction is part of the AgriFood industry, which currently tracks an average EBITDA multiple of 10.1x since the beginning of 2026, 9.8% decrease compared to 2025. This data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Headquartered in Toulouse, Onore is a leading manufacturer of premium frozen bakery, pastry, and snacking products. The group operates 7 production sites (5 in France, 2 in the UK) and serves foodservice chains, independent coffee shops, and retail clients. Onore owns recognized brands such as Boncolac (pastries), Mag M (macarons), Proper Cornish (savory pastries), and Cakesmiths (artisan cakes). In 2025, the group generated over EUR220 million in revenue with a workforce of 1,000 employees.
Ent. Value
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Equity Value
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Multiples Analysis
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with ONORE
mynth data is contributed by M&A / PE professionals and systematically cross-verified against private deal documents and official releases. All source materials are destroyed post-validation to guarantee data anonymity and compliance.