PEACE DINING CORP acquired by HANA GROUP

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.

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.

Refresco acquired 100% of DIS. This transaction was highly strategic as it focused on "Canning"—a packaging format experiencing double-digit growth driven by the surge in energy drinks and craft sodas. The deal allowed Refresco to add approximately 800 million cans to its annual production capacity and secure a state-of-the-art facility in a prime logistical location.

IK Investment Partners has agreed to acquire Salad Signature from AAC Capital. The company generated revenue of EUR176 million in 2015. This Secondary LBO facilitates the exit of AAC Capital, which had built the group through the merger of Johma and Hamal. IK's strategy is to support the management team in expanding beyond the core Benelux market into France, Scandinavia, the UK, and Germany, both organically and through add-on acquisitions.

Corpfin Capital acquired a controlling 60% stake in Euro Gamma through a newly formed holding company. The transaction was structured to ensure continuity, with the historical shareholders and the management team reinvesting their proceeds to retain a substantial 40% minority stake in the new structure. This partnership aims to support a new phase of growth focused on commercial expansion and maximizing the output of the recently built Spanish factory.

Ardian has entered into exclusive negotiations to acquire a majority stake in Solina Group from IK Investment Partners. This transaction marks the fifth Leveraged Buyout (LBO) in the company's history, highlighting its consistent cash flow generation and attractiveness to financial sponsors. Under the proposed structure, the management team will reinvest to retain approximately 15% of the capital (down from 27%). The acquisition is driven by a 4-5 year strategic plan focused on international expansion, specifically targeting new production facilities in Turkey and Russia to localize manufacturing and bypass geopolitical trade barriers.

Ardian, a pan-European private equity firm, acquired a majority controlling stake in Irca, a prominent family-owned Italian manufacturer of bakery and pastry ingredients. The transaction was executed through Ardian's Mid Cap Buyout fund, Axa Lbo Fund V. The deal structure also involved the acquisition and subsequent merger of two smaller entities controlled by the founding Nobili family, Italcima srl and D&D Service srl, to create a consolidated group. The Nobili family, who founded the company in 1919, opted to divest the majority of their holdings, with Roberto Nobili, a son of the patriarch, retaining a minority interest to ensure continuity and participate in the company's future growth. The primary rationale for the acquisition was to accelerate Irca's expansion strategy. Ardian plans to leverage its resources and international network to support the company's organic growth, particularly in foreign markets where it already has a strong presence. Furthermore, a key pillar of the strategy involves pursuing synergistic bolt-on acquisitions and consolidating the fragmented food ingredients market, both in Italy and abroad. The transaction was subject to customary closing conditions, including approvals from relevant European antitrust authorities.

Grupo Bimbo reached a definitive agreement to acquire 100% of the shares of Panrico S.A.U. The transaction is structured as a partial acquisition: Bimbo acquires the high-margin sweet baked goods business but excludes the "branded packaged bread" category. This exclusion was likely driven by antitrust considerations, as Bimbo already held a dominant position in the Spanish bread market. The deal allows Bimbo to capture significant manufacturing and distribution synergies in the Iberian region.

IK Investment Partners acquired a majority stake in Cérélia Group, succeeding a consortium of investors led by Sagard, Capzanine, Cerea Capital, and BNP Développement. The transaction was structured as a preemptive bid, valuing the group at approximately €300 million. The strategic rationale centers on accelerating the company's transition from a regional leader into a global champion of chilled dough and ready-to-bake products. Under the leadership of CEO Guillaume Réveilhac, who remains a significant minority shareholder, the partnership aims to leverage IK's financial backing to execute large-scale add-on acquisitions. This acquisition follows a successful integration phase under Sagard's tenure, which saw the company's revenue reach €212 million by 2014.