Apheon Acquires Cain Food Industries and Merges It with Millbio

Kainos Capital Acquires Muenster Milling

August 12, 2021

Food & Beverage

Kainos Capital, a Dallas-based private equity firm focused on food and consumer businesses, has acquired Muenster Milling, a fourth-generation pet food and ingredient manufacturer based in Muenster, Texas. The transaction partners Kainos with owners Mitch and Chad Felderhoff to scale Muenster's manufacturing capabilities and build a broader pet food and ingredient platform within Kainos' portfolio.

Ergon Capital Acquires Majority Stake in Millbo–BioNaturals Group

December 16, 2020

Food & Beverage

Ergon Capital Partners IV SCSP has closed the acquisition of a majority stake in Millbo, BioNaturals International and BioNaturals Europe (together "Millbo–BioNaturals"), creating a global supplier of natural, clean-label bakery ingredients. The sellers (including Millbo/Boggiani family and other shareholders) will reinvest alongside Ergon, and the investment is intended to accelerate growth through geographic expansion, product cross-selling and a buy-&-build strategy.

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.

Apheon and LFPI Recapitalize Haudecoeur

November 28, 2024

Food & Beverage

Apheon has restructured its ownership of Haudecoeur by transferring its stake into an Apheon-controlled vehicle and extending its majority position, while LFPI joins as a minority investor. The Haudecoeur family and management are materially reinvesting; the recapitalization will provide additional capital and an extended time horizon to support organic growth and a targeted add-on acquisition programme across Europe.

Apheon Acquires Majority Stake in Golmar Italia

September 30, 2025

Industrial Services

Apheon, a pan‑European mid‑market private equity firm, has acquired a majority stake in Golmar Italia S.p.A., a leading Italian distributor of professional cleaning and hygiene products. The founding Golè family will remain invested as minority shareholders while Apheon intends to pursue a buy‑and‑build strategy to accelerate Golmar’s growth across Italy and in high‑potential end markets.

American Industrial Partners Acquires AGCO's Grain & Protein Business

July 25, 2024

Manufacturing

American Industrial Partners (AIP) has acquired AGCO Corporation's Grain & Protein division in an all-cash divestiture, creating a standalone, privately held business rebranded as Grain & Protein Technologies. The business, which operates leading brands including GSI, Cumberland, AP, Tecno and Cimbria, generates approximately $1 billion in annual revenue, employs ~3,200 people across 14 manufacturing facilities globally, and will be led by CEO Jacob Thomas.