Add-on Acquisition • Food

Apheon and Baltisse Exits Dolciaria Acquaviva

On May 29, 2024, Vandemoortele invested in food company Dolciaria Acquaviva from Apheon and Baltisse

Investment Context
  • This is Vandemoortele’s 2nd transaction in the Food sector.
  • This is Vandemoortele’s 1st transaction in Italy.

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Investment Summary

Date May 29, 2024
Target Dolciaria Acquaviva
Sector Food
Investor(s) Vandemoortele
Sellers(s) Apheon
Baltisse
Deal Type Add-on Acquisition

Target Company

Dolciaria Acquaviva

Naples, Italy
Dolciaria Acquaviva is a player in the attractive frozen bakery market recognized for its high-quality and innovative products. Dolciaria has a wide product portfolio serving, directly and indirectly, more than 20 thousand customers across Italy. Dolciaria Acquaviva was founded in 1979 and is based in Naples, Italy.
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Investor Overview 1

Investor

Vandemoortele

Gent, Belgium

Category Company
Founded 1899
Sector Food
DESCRIPTION

Vandemoortele is a family-owned Belgian foods group with a European dimension. It manufactures and sells food products in two segments: frozen bakery products (Bakery Products) and margarines and fats (Lipids). Vandemoortele was founded in 1899 and is based in Ghent, Belgium.


Deal Context for Investor #
Overall 2 of 3
Sector: Food 2 of 3
Type: Add-on Acquisition 1 of 1
Country: Italy 1 of 1
Year: 2024 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-07 Van Dijk Food - Margarine & Frying Fats

Zeewolde, Netherlands

Van Dijk Food -margarine & frying fats., The margarine and fats business of Van Dijk Food Products, located in Zeewolde,

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-25 Bunge s European Margarines and Spreads Business

Germany

Bunge's European Margarines and Spreads Business commercially distributes its products across B2C (retail) and B2B channels (professional and industry). The business operates in Germany, Finland, Poland and Hungary, along with its spreads and margarine manufacturing sites and a portfolio of 20 consumer brands.

Buy -

Seller Profiles 2

SELLER

Apheon

Brussels, Belgium

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 2.8B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Apheon is a generalist private equity firm that invests in middle-market companies throughout the Benelux, Italy, Iberia, France, and Switzerland. Ergon looks to invest €25 to €75 million in businesses with sustainable competitive advantages and operating in 'attractive' niche markets. Apheon was formerly knowns as Ergon Capital Partners. The Firm was formed in 2005 and is based in Luxembourg.


Deal Context for Seller #
Overall 18 of 18
Sector: Food 1 of 1
Type: Add-on Acquisition 3 of 3
Country: Italy 6 of 6
Year: 2024 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-21 Salpa & Cherubini

San Giustino, Italy

Salpa & Cherubini is a confectionery company specialized in the production of high-quality ice cream cookies, chocolate decorations, covers, inclusions and toppings, gluten-free products, cookie dough and breadcrumbs for top multinationals in the ice cream, yogurt and confectionery industries and retailers and global clients with the highest international standing, including multinationals such as Unilever, Froneri, Nestle, Ferrero, Mars, Sammontana, Findus, etc. Salpa & Cherubini was founded in 1934 and is based in San Giustino, Italy.

Buy -
SELLER
DESCRIPTION

Baltisse is a family office focused on real estate and private equity investments across Western Europe. The Firm's private equity group looks to invest €25 to €250 million to support a growth oriented buyouts and majority investments in companies that with healthy margins, strong growth prospects, and operating in large markets. Broad areas of interest include industrial, food, beverage, healthcare, energy, and services. Baltisse was formed in 2006 and is headquartered in Gent, Belgium.


Deal Context for Seller #
Overall 2 of 2
Sector: Food 1 of 1
Type: Add-on Acquisition 1 of 1
Country: Italy 1 of 1
Year: 2024 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-18 World of Talents

Kortrijk, Belgium

World of Talents is a provider of outsourcing, interim staffing, and recruitment & selection services for more than 1.400 SME’s and companies. World of Talents was founded in 2008 and is based in Kortrijk, Belgium.

Sell -

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