PE firm Apheon buys new French food group Alma

Private-equity steadfast Apheon has acquired Alma, the caller French nutrient radical created by combining Foo Seng and Varachaux.

The deal, struck for an undisclosed sum, comes conscionable months aft Asian snacks concern Foo Seng and meal-components supplier Varachaux were merged to signifier Alma.

In a connection contiguous (7 July), Apheon said the woody "marks the opening of a caller signifier of maturation for Alma", pointing to its "proven playbook for scaling businesses done targeted consolidation" successful European markets.

Combined, Alma employs astir 115 radical and generates astir €40m ($45.7m) successful revenue.

The institution supplies to wholesalers, foodservice operators and retailers, chiefly successful France.

Alma's main enforcement is Daniel Coutinho, who bought Foo Seng successful 2023 earlier combining the concern with Varachaux successful April.

He volition proceed to pb Alma and stay a "significant" capitalist successful the concern alongside Apheon, the caller bulk shareholder said.

Coutinho said: "In caller years, Foo Seng has established itself arsenic a starring subordinate successful premium frozen Asian snacks, driven by our committedness to authentic recipes, accordant merchandise prime and culinary know-how.

"The acquisition of Varachaux earlier this twelvemonth marks a pivotal measurement towards a larger and much diversified group. Apheon shares our semipermanent imaginativeness and brings not lone the superior but the strategical enactment and buy-and-build expertise we request to accelerate our enlargement crossed Europe and physique a genuinely category-defining platform."

Foo Seng, which was acceptable up successful 2009, has a "strong position" successful the French market, peculiarly successful halal products, according to Apheon.

Varachaux, founded successful 1968 successful Wissous, produces frozen meat-based and plant-based nutrient components for nutrient manufacturers and foodservice operators.

Apheon said it volition assistance Alma successful "further accelerating its integrated growth, repositioning Varachaux towards higher-value frozen snacks and halal merchandise ranges and pursuing a selective buy-and-build strategy crossed a highly fragmented European market".

Wolfgang de Limburg, Apheon managing partner, added: "Alma operates successful an attractive, fast-growing niche wherever it holds a starring position, underpinned by authentic products, beardown concern capabilities and a wide consolidation accidental ahead."

"PE steadfast Apheon buys caller French nutrient radical Alma" was primitively created and published by Just Food, a GlobalData owned brand.