SUNOPTA acquired by REFRESCO

Danone has acquired 100% of Huel. This represents a significant milestone in the second chapter of the "Renew Danone" strategy, which focuses on accelerating growth through high-added-value acquisitions. This transaction allows the French group to establish a dominant position in the rapidly expanding "nutritiously complete" and functional nutrition category. The strategic rationale for the deal centers on the perfect alignment between Huel’s high-growth, plant-based protein portfolio and Danone’s global leadership in specialized nutrition. By acquiring Huel, Danone gains access to a cutting-edge digital business model and a premium, younger consumer base that is increasingly seeking convenient and healthy meal alternatives. The partnership is designed to be highly complementary, combining Huel’s entrepreneurial agility and D2C expertise with Danone’s industrial scale, research facilities, and extensive worldwide retail network. This move follows a series of targeted acquisitions by the group in the medical and biotic nutrition spaces, reinforcing its shift away from lower-margin traditional dairy toward high-performance, science-backed nutritional solutions. For Huel, the integration provides the necessary infrastructure to accelerate international expansion and enter new geographic markets more rapidly than it could as a standalone entity.

BRIDOR has announced the acquisition of PANAMAR BAKERY GROUP for an enterprise value exceeding €1 billion, making it the largest transaction in the history of the LE DUFF Group. This landmark deal integrates 11 Spanish production sites and 2,600 employees into Bridor’s existing network, creating a global powerhouse with a combined turnover of €2.5 billion in 2026. The strategic rationale for the deal is rooted in the "Premiumization" of the frozen bakery market and the capture of the highly resilient Spanish tourism and retail channels. By acquiring the Valencian leader, Bridor immediately gains access to a competitive export hub via the Port of Valencia and adds 1,200 specialized references to its global portfolio. This acquisition is the fifth major move in a multi-year global investment plan, following recent entries into Australia and the Netherlands. The partnership is designed to harmonize high-volume industrial excellence with traditional bakery craftsmanship, effectively cementing Bridor’s undisputed leadership in the professional food service and premium retail sectors worldwide.

This transaction structures a full-function joint venture combining the industrial assets and commercial operations of Gelagri Bretagne and Greenyard Frozen France, creating a consolidated entity under the majority ownership and operational control of the Greenyard group. The combination establishes a leading player in the French frozen vegetable sector with an aggregate pro-forma revenue exceeding 260 million euros, supported by an integrated manufacturing cluster of four production sites in Brittany and an combined workforce of 900 employees. The structural rationale for the transaction is driven by the need for industrial scale and volume consolidation to counter escalating capital expenditure requirements in cold-chain automation and to increase bargaining leverage against consolidating grocery retail purchasing alliances. Prior to this corporate combination, Gelagri Bretagne’s commercial expansion was restricted by its localized cooperative distribution framework, capping its international sales velocity and capacity to absorb industrial overhead during off-peak periods. Immediate post-acquisition priorities will focus on operational integration across the four-site footprint, executing the ongoing co-manufacturing contracts for Eureden’s flagship D'Aucy and Paysan Breton brands to preserve domestic volumes, and routing the newly acquired Breton production capacity directly through Greenyard's global distribution tracks to accelerate international market penetration and maximize plant utilization.

Nasta Pet Food acquired 100% of the shares of FirstMate Pet Foods from its founder and partner. This transatlantic consolidation aims to establish the acquirer as a major player in the North American market, the world's largest pet food region. The acquisition was funded through a major EUR118 million unitranche refinancing package provided by an international debt fund. This financing also serves to retire existing bank debt and provides a confirmed, undrawn CAPEX line for future growth. The strategic rationale focuses on combining European veterinary expertise with North American manufacturing capabilities and digital distribution networks. Following the integration, the new group employs 250 people and aims for a consolidated turnover of EUR200 million in 2026.

Friulia has completed a strategic investment in Pintaudi S.r.l., the premium bakery subsidiary of Polo del Gusto (Riccardo Illy). Following the transaction, Polo del Gusto retains control with 63.4% (diluted from 97.5%), while founder retains a 2.5% minority stake. The capital injection is aimed at supporting production volume growth, meeting increasing market demand, and maintaining the high artisanal standards of the brand.

Keurig Dr Pepper completed the acquisition of JDE Peet’s in April 2026 through a recommended public cash offer, taking effective control of 96.22% of JDE Peet’s outstanding shares and paving the way to full delisting from Euronext Amsterdam. The transaction is structured as an all‑cash, platform‑building move that creates a global coffee powerhouse by combining JDE Peet’s deeply embedded coffee brands and international footprint with Keurig Dr Pepper’s leading single‑serve coffee platform and North American beverage infrastructure. Under the strategic roadmap, Keurig Dr Pepper plans to separate into two independent U.S.‑listed entities: a North American refreshment beverage company and a pure‑play global coffee business, with JDE Peet’s forming the core of the latter. The deal allows Keurig Dr Pepper to consolidate more than a dozen global coffee brands, including Peet’s, Jacobs, L’Or, and Douwe Egberts, under a unified global coffee platform, while JDE Peet’s gains access to Keurig’s installed base and innovation engine in pods and in‑home coffee systems. The combined coffee entity, intended to be led by Rafael Oliveira as CEO, is expected to generate in the mid‑teen‑billion‑dollar range of annual sales and target operational synergies through supply‑chain integration, brand consolidation, and shared back‑office functions.

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.

Illva Saronno Holding, through its subsidiary Disaronno Ingredients, has acquired 100% of Delite S.r.l. The transaction allows Illva to integrate a strong regional distributor in the Emilia-Romagna area into its national network. This deal is part of the strategic project "DIS," which aims to build a unified, capillary distribution organization across Italy by aggregating regional leaders (following the acquisitions of Arbore in Liguria and G&P Center). The sellers include RDM Group and several private individuals.

Europe Capital Partners VII has acquired a majority stake in ESCA S.r.l. from the founding shareholders. The brothers Giuseppe and Patrizio Patrizi have reinvested to retain a minority stake and will continue in their operational roles (Plant Director and Commercial Director, respectively). The acquisition was financed by a pool of banks led by BCC Banca Iccrea and a private debt tranche provided by Tenax Capital.

This take-private transaction transitions Greenyard NV from a public listing on Euronext Brussels into a closely held corporate structure, executing a strategic buy-out engineered by Solum Partners alongside the founding Deprez family to reset the company's capital allocation strategy. The shift to private ownership is driven by the structural requirement to fund multi-year, low-yield capital expenditure programs—specifically cold-chain infrastructure automation and digital supply-chain integration—which are fundamentally misaligned with the immediate earnings-per-share visibility demanded by public equity markets. Prior to the buyout, Greenyard successfully demonstrated the scalability of its integrated customer model but faced balance sheet constraints when financing concurrent upstream farm acquisitions across disparate geographic production zones. Post-acquisition priorities will prioritize the immediate balance sheet integration of the group's recently consolidated global farming assets, optimizing total asset turnover across its 21-country logistical footprint, and executing a simplified squeeze-out process to eliminate minority shares, thereby ensuring untethered cash flow redirection toward large-scale infrastructure modernization.