Financial Adviser to Vandemoortele on its Acquisition of Dolciaria Acquaviva
Oppenheimer’s European Consumer Investment Banking Team is pleased to have acted as Financial Adviser to Vandemoortele on its acquisition of Dolciaria Acquaviva from Apheon and the Acquaviva Family
On 29 May 2024, Vandemoortele and Apheon announced that they have entered into an agreement under which Vandemoortele will acquire Dolciaria Acquaviva. Oppenheimer Europe Ltd. acted as financial adviser to Vandemoortele.
Commenting on the announcement, Jeroen van den Heuvel, Co-Head of European Consumer Investment Banking at Oppenheimer, said “We are delighted to have advised Vandemoortele on this highly strategic acquisition whereby two leading and highly complementary family-owned frozen bakery groups will combine in Italy.”
The transaction reinforces Oppenheimer’s position as a leading M&A adviser in the European consumer sector and in particular within the food & beverage sub-sector. This follows Oppenheimer advising Finsbury Food Group Plc on its recommended acquisition by DBAY Advisors, Leprino Foods on its acquisition of Glanbia’s UK and European cheese business, Groupe Bel on the sale of its Leerdammer cheese business, and HEMA on the sale of its HEMA Bakeries division.
Vandemoortele is a family-owned, leading European food group which operates in Bakery Products and Plant Based Food Solutions, by producing and selling high quality food products with a focus on sustainability from ingredient sourcing to product packaging and shipment.
Dolciaria Acquaviva is a leading Italian manufacturer of premium freezer-to-oven croissant, sweet and savoury pastry specialties, bread, and patisserie. The Company was founded in 1979 in Napoli near Caserta by the Acquaviva family as an artisanal producer of Neapolitan specialties and has developed into one of the most important players in the frozen bakery market in Italy and internationally.
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