SOVOS BRANDS acquired by CAMPBELL SOUP COMPANY

Davide Campari-Milano N.V. completed the acquisition of 100% of Courvoisier S.A.S. from Beam Suntory. This transaction represents the largest acquisition in Campari's history, significantly strengthening its position in the luxury spirits segment. The strategic rationale for the acquisition is the integration of a world-class Cognac brand that complements Campari’s existing "bitters" and "liqueurs" dominance, particularly for the US and Asian markets. The acquisition allows Campari to internalize a high-margin asset with substantial aging inventory, providing long-term visibility for premium product releases and brand elevated positioning.

Glanbia has agreed to acquire Flavor Producers. This acquisition significantly expands Glanbia's Nutritional Solutions (NS) platform by adding scale in the high-growth US "Natural & Organic" flavor market. Flavor Producers brings complementary capabilities in plant-based and organic extracts that align with consumer demand for clean labels. The deal is financed through existing debt facilities and cash, leveraging Glanbia's strong balance sheet (0.5x Net Debt/EBITDA). It is expected to be marginally accretive to EPS in the first full year.

Argos Wityu has acquired a majority stake in Groupe Routin from the private equity firm Seven2 (formerly Apax Partners). The transaction is the first investment in France for the "Argos Climate Action" fund. Existing minority shareholders Credit Mutuel Equity and UI Investissement, along with the management, have reinvested alongside Argos. The strategic plan focuses on international expansion (particularly in the US) combined with a radical environmental transition: reducing CO2 emissions by 7.5% annually, preserving water resources, and increasing the use of natural ingredients.

CVC Capital Partners has agreed to acquire a majority stake in Partner in Pet Food from Cinven. This transaction follows a competitive process where CVC and Advent International had initially explored a joint bid. Ultimately, CVC proceeded as the sole majority acquirer, while Cinven retained a minority stake to benefit from future upside. The new partnership aims to accelerate PPF's M&A strategy and continue its shift toward premium products. The current management team, led by CEO Gerald Kuehr, will remain in place.

Ardian Growth entered into a primary partnership with the founders of My Pie through a minority equity investment. This transaction is designed to provide the company with the structural support needed for its next phase of scaling. The strategic roadmap focuses on maintaining its current growth trajectory within the French retail market (GMS) while accelerating diversification into the out-of-home catering (RHF) sector and initiating international expansion. Ardian will actively support the management in optimizing the company's organizational structure, digitalizing operations, and leveraging Ardian's global network to establish My Pie as a European leader in the hot snacking industry.

The transaction marks the exit of private equity firm BC Partners from Forno d'Asolo Group, following a successful ownership period that began in 2018. The new owners are a consortium composed of European private equity firm Investindustrial and Italian food manufacturer Sammontana. Under BC Partners' stewardship, Forno d'Asolo underwent a significant transformation from a strong domestic company into a global leader in the frozen bakery and patisserie sector. The value creation strategy focused on several key pillars: unlocking major commercial and operational efficiencies, completing the product portfolio, diversifying sales channels, and executing a targeted international expansion into new markets including the United States, Germany, and France. A critical component of this growth was a buy-and-build strategy, which included four strategic add-on acquisitions sourced from local Italian entrepreneurs. The most transformational of these was the purchase of Bindi, a historic patisserie brand. This comprehensive strategy, combined with the professionalization of the management team, resulted in substantial organic and inorganic growth, strongly positioning the company for its next chapter under new ownership. The acquisition provides a platform for continued expansion, leveraging the company's market leadership and consolidation potential in key global markets.

Coca-Cola HBC AG, through its wholly-owned subsidiary CC Beverages Holdings II BV, has completed the acquisition of Brown-Forman Finland Oy, the corporate entity that owns the Finlandia vodka brand, from Brown-Forman Netherlands BV. The transaction finalized following a definitive agreement reached earlier in the year. This corporate divestiture structures the full equity transfer of the brand, transitioning ownership to the strategic bottling partner of The Coca-Cola Company. The divestment aligns with Brown-Forman’s long-term strategic ambition to premiumize its core product portfolio through targeted brand innovation, acquisitions, and selective asset sales. For the purchasing group, acquiring the established spirit brand accelerates its objective to position itself as a comprehensive, round-the-clock beverage partner. The post-closing commercial integration focuses on the following key operational pillars: (1) Mixability Opportunities: Driving commercial volume by pairing the spirit portfolio with premium and super-premium Non-Alcoholic Ready-To-Drink (NARTD) products. (2) Channel Penetration: Strengthening active B2B partnerships and commercial distribution contracts across strategically important hospitality channels, specifically targeting the hotel, restaurant, and cafe (HoReCa) sectors. (3) Market Consolidation: Capturing incremental consumer drinking occasions and expanding the group's premium spirits footprint, particularly within Central and Eastern European regional markets where the brand maintains an established position.

The agricultural cooperative Terrena, which already owns the Pere Dodu and Douce France brands, has acquired almost all of the capital of the publicly traded food group Tipiak.

DBAY Advisors acquired the entire issued share capital of Finsbury Food Group via a court-sanctioned scheme of arrangement. The offer price of 110 pence per share valued the company's equity at approximately �143.4 million. This price represented a 23.6% premium to the closing share price prior to the announcement. The deal was driven by the belief that Finsbury could better pursue "transformational M&A" and international expansion as a private company, free from the costs and constraints of a public listing on AIM.

Nolet Distillery launched a recommended public offer to acquire all issued and outstanding ordinary shares of Lucas Bols Company, marking a significant consolidation within the Dutch spirits industry. This public-to-private transaction was motivated by a shared strategic vision to create a "Dutch champion" in the global cocktails and spirits market. The acquisition allows Lucas Bols to preserve over 450 years of craftsmanship and heritage under the stewardship of a long-term, family-owned strategic ally. By delisting from the public market, Lucas Bols can pivot its growth strategy toward long-term brand fortification and innovation, insulated from the volatility of short-term financial market demands. The deal ensures operational continuity, with Lucas Bols retaining its identity, name, and Amsterdam-based headquarters under its existing leadership team. This merger of two historic distillers—combining Nolet’s global vodka and gin strength with Lucas Bols’ versatile cocktail portfolio—provides a robust foundation for expedited international growth and protects the traditional craftsmanship of the Dutch distilling sector for future generations.