Ergon Capital Acquires Majority Stake in Dolciaria Acquaviva

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.

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.

Vandemoortele Acquires Dolciaria Acquaviva from Apheon

May 29, 2024

Food & Beverage

Belgian family-owned food group Vandemoortele has acquired a majority stake in Dolciaria Acquaviva S.p.A. from pan-European private equity firm Apheon. The deal gives Vandemoortele a stronger foothold in Southern Europe and Italy’s frozen bakery market while enabling further international expansion of the Dolciaria product range and industrial footprint.

TDR Capital Acquires Majority Stake in Acqua & Sapone from H.I.G. Capital

June 26, 2024

Retail

Funds managed by TDR Capital have acquired a majority stake in Acqua & Sapone from an affiliate of H.I.G. Capital, with the Barbarossa family and H.I.G. retaining a significant equity interest. Acqua & Sapone is Italy's leading non-food discount retailer, operating over 700 stores and generating roughly €1.1 billion in annual revenue; TDR says it will work with management and existing shareholders to continue the company's growth.

Encore Consumer Capital Acquires DeIorio (DeIorio Foods)

October 28, 2024

Consumer Products

Encore Consumer Capital has acquired DeIorio (DeIorio Foods/DeIorio, LLC), a Utica, New York-based manufacturer of specialty frozen pizza dough products, from Rudolph Capital. DeIorio employs over 300 people and Encore plans to invest in capacity and capabilities while pursuing add-on acquisitions to build out a frozen-dough platform serving foodservice, convenience and retail customers across North America.

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.