Vandemoortele Acquires Dolciaria Acquaviva from Apheon

Ergon Capital Acquires Majority Stake in Dolciaria Acquaviva

July 31, 2019

Food & Beverage

Ergon Capital IV SCSP (Ergon) has acquired a majority stake in Dolciaria Acquaviva from the Acquaviva family, with family members reinvesting alongside Ergon. Dolciaria Acquaviva is an Italian leader in frozen bakery products based in Gricignano di Aversa (Caserta), employs about 100 people, serves over 20,000 primarily Ho.Re.Ca customers nationwide, and will pursue accelerated growth and consolidation supported by Ergon.

Ergon-backed Dolciaria Acquaviva Acquires Milanopane S.r.l.

October 31, 2019

Food & Beverage

Ergon Capital Partners-backed Dolciaria Acquaviva has acquired Milanopane S.r.l., a Buccinasco-based producer of high-quality puff pastry salty snacks. Milanopane generates approximately €6 million in sales and employs 40 FTEs; the acquisition expands Dolciaria's product offering into salty frozen snacks, strengthens its position with modern trade customers, adds a Northern Italy production hub and is expected to deliver commercial and cost synergies.

Ergon-backed Dolciaria Acquaviva Acquires Dolce Milano S.r.l. and Unigel S.r.l.

March 25, 2021

Food & Beverage

Ergon Capital Partners–backed Dolciaria Acquaviva has completed the acquisitions of Dolce Milano S.r.l. (a Lombardy-focused frozen bakery distributor with a small frozen-dessert production line) and Unigel S.r.l. (a specialty frozen bread producer best known for the Schiocco product). The add-ons strengthen Dolciaria's presence in Northern Italy — particularly Lombardy — expand its SKU range into frozen desserts and specialty breads, increase exposure to modern trade and HoReCa channels, and create commercial and production synergies.

Vandemoortele Acquires Majority Stake in Banneton Bakery

April 8, 2024

Food & Beverage

Vandemoortele, a family-owned European food group, has acquired a majority stake in Banneton Bakery, a New Jersey-based manufacturer of freezer-to-oven croissants, danishes, and other pastries. The transaction represents a full exit for Encore Consumer Capital; founders Victor and Alex Litinetsky remain investors and will continue to run day-to-day operations.

Valeo Foods Group Acquires Freddi Dolciaria S.p.A

May 2, 2025

Food & Beverage

Valeo Foods Group has acquired Italian sweet bakery Freddi Dolciaria S.p.A, a Castiglione delle Stiviere-based producer of pre-packaged sponge cakes with annual revenue approaching €20 million and 48 employees. The purchase strengthens Valeo's packaged wafers, cakes and biscuits portfolio (complementing Balconi), expands manufacturing and logistical capacity, and accelerates growth across South-West Europe.

Apheon Acquires Majority Stake in Salpa

December 21, 2023

Food & Beverage

Apheon, a pan‑European private equity firm, has acquired a majority stake in Salpa, an Italian producer of cookie-based ingredients and inclusions for the industrial ice cream, dairy and confectionery sectors. The Cherubini family and Italian PE firm Equinox sold their stakes while the Cherubini family and management reinvested as minority shareholders; Apheon will support Salpa's planned international expansion and growth.