Bakkavor Group Acquisition & Valuation

LT Foods Ltd is an Indian-origin FMCG company in the consumer food space. The group engages in the milling, processing, and marketing of branded and non-branded basmati rice and manufacturing of rice food products. Its rice product portfolio comprises Brown rice, White rice, Steamed rice, Parboiled rice, Organic rice, Quick-cooking rice, Value-added rice, and Flavored rice among others. It operates contract farming, procurement, storage, processing, packaging, and distribution; and also engages in the research and development of rice and rice food products. Geographically, it derives maximum revenue from America, and the rest from India, Europe, and other regions. Its brand profile includes Daawat, Royal, Heritage, Devaaya, and others.

Kernel Holding SA is an investment holding company. The company's segment includes Oilseed Processing; Infrastructure and Trading and Farming. It generates maximum revenue from the Infrastructure and Trading segment. The Infrastructure and Trading segment includes sourcing and merchandising of wholesale edible oils, grain, provision of silo services, grain handling and transshipment services.

Nomad Foods Ltd is a packaged foods company that is involved in the business of manufacturing and distribution of branded frozen foods in Western Europe. The company manufactures and markets frozen food products such as fish, vegetables, poultry, Ice Cream and ready meals like pizza. It sells its products through large grocery retailers under the brand Birds Eye in the United Kingdom and Ireland, Findus in Italy, France, Spain, and Scandinavia, and Iglo in Germany and other continental markets. The company operates through a single segment being Frozen. The majority of the revenue is generated from the United Kingdom.

Picnic engineers food production robotics, including the Pizza Production System for commercial kitchens that automates custom pizza assembly from chef-specified ingredients and recipes at high volumes.

Viee is a beverage producer crafting nut-based drinks from non-GMO almonds, cashews, pistachios, and macadamia nuts. The lineup includes flavored milks, smoothies, and energy boosters sweetened with natural extracts. Manufacturing occurs in facilities using cold-pressing to retain nutrients. Ho Chi Minh City-based Viee distributes through supermarkets and cafes in Vietnam.

Cloetta AB is a confectionary company in Northern Europe. Its products are sold in more than fifty countries worldwide with Sweden, Finland, Denmark, Norway, the Netherlands, Germany, and the UK as the main markets. The company's brand portfolio includes Lakerol, Cloetta, CandyKing, Jenkki, Kexchoklad, Malaco, Sportlife, and Red Band. Cloetta has approx. seven production units in five countries.

Honasa Consumer Ltd is a digital-first beauty and personal care (BPC) company in India. It trades various beauty and personal care products across baby care, skin care, hair, and other related personal care categories. The products are manufactured through third-party contract manufacturers under the brand name of Mamaearth, The Derma Co, BBlunt, Aqualogica, and Ayuga. Geographically, the company generates a majority of its revenue within India.

Snack Is Busy is a Hangzhou-based chain of neighborhood snack retail stores targeting urban communities in China. It offers ready-to-eat items like fried chicken, popcorn, beverages, and desserts through over 1,000 outlets in Zhejiang and Jiangsu provinces. Founded in 2016, the brand emphasizes 24-hour access and delivery via Meituan and Ele.me partnerships, catering to daily consumer needs with localized menus.

Shuyishao Xiancao is a Guangzhou-based beverage manufacturer producing ready-to-drink grass jelly teas, milk teas, coffees, and desserts. The company supplies chain stores with low-sugar formulations using fresh ingredients, distributing products through supermarkets and vending machines in southern China.

J&J Snack Foods Corp. manufactures snack foods and distributes frozen beverages, which it markets nationally to the foodservice and retail supermarket industries. The company's portfolio of frozen beverages, frozen novelties, and baked goods includes soft pretzels, frozen juice treats and desserts, stuffed sandwiches, churros, funnel cakes, cookies, and other snack foods and drinks. It operates through three segments: Food Service, which sells snacks, desserts, and baked goods at the point of sale; Retail Supermarkets, which sells frozen and prepackaged products to supermarkets; and Frozen Beverages, which sells frozen beverages under the ICEE, Slush Puppie, and Parrot Ice brands in the United States, Mexico, and Canada. The majority of revenue comes from the Food Service segment.

Osotspa PCL is engaged in the manufacturing and distribution of consumer products, comprising energy drinks and personal care products. In addition, the Group also engaged in providing manufacturing services, distribution of goods and providing marketing services. The company operates in three reportable segments Beverage, Personal care and Others. The majority of its revenue comes from the Beverage segment. Some of its Energy Drink brands include M-150, Calpis Lacto, Slimma, Peptine and others. Geographically, it generates majority of its revenue from Thailand.

Del Monte Corp is a producer, marketer, and distributor of fresh, packaged, value-added, and canned food products. Its products are sold in multiple countries and are marketed under the DEL MONTE brand and other brands.

Promasidor is a Lagos, Nigeria-headquartered manufacturer of consumer food products distributed in 30 African countries. The company produces Onga seasoning cubes, Cowbell powdered milk, and Top Tea beverages, holding 40% market share in Nigeria's stock cube segment. Promasidor operates factories in Angola, DRC, and Ghana, sourcing local grains for Amila cereals. Founded in 1979, it employs 7,000 people and partners with Unilever for distribution networks.

Bikaji Foods International Ltd is a fast-moving consumer goods (FMCG) brand with an international footprint, selling Indian snacks and sweets. Its product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which includes gift packs (assortment), frozen food, mathri, cookies, and others. The company operates in India as well as Outside India.

Spadel SA produces and markets mineral water, lemonade, and fruit juices. The company also sells water coolers and dispensers. It produces brands of natural mineral water, spring water, and refreshing beverages. Its products are marketed under the brand names Spa, Bru, Wattwiller, Carola, and Brecon.

Carabao Group PCL manufactures and distributes energy drinks, water, and coffee under different brand names through its subsidiaries. It operates in three reportable segments: Manufacture and distribution of drinks under Group's trademark, Distribution of OEM products under Group's trademark, and Distribution of other products. A majority of the company's revenue is generated from the Manufacture and distribution of drinks under Group's trademark segment, which manufactures and sells carbonated and non-carbonated energy drinks, coffee, sports drinks, and vitamin-C drinks through Carabao and Woody C plus brands. Geographically, the company generates maximum revenue from the domestic market, and the rest from overseas markets like the United Kingdom, and other regions.

Liquid Death is a canned water brand that markets still and sparkling varieties in 16-ounce aluminum tallboys. Launched in 2019 from Los Angeles, it has expanded to over 113,000 retail points across North America, Europe, and Australia, including Whole Foods and 7-Eleven. The company also offers flavored seltzers like Severed Lime and acquisitions such as Mike's Hard Lemonade assets bolster its portfolio. Annual revenue surpasses $263 million with 264 employees supporting its mission to combat plastic waste through infinite recyclability.

Rebel Foods is a Pune-headquartered cloud kitchen operator managing over 450 brands in India and Southeast Asia. Founded in 2011, it delivers through popular labels like Faasos, Behrouz Biryani, and Mandarin Oak for diverse cuisines including North Indian, biryani, and Asian fusion. The company runs 450+ kitchens in 45 cities, processing 1.5 million orders monthly via partnerships with Zomato, Swiggy, and DoorDash. Its technology platform optimizes supply chains, menu development, and last-mile delivery efficiency.