Apheon, a pan-European private equity investor, is pleased to announce that its portfolio company Salpa has acquired a majority stake in BHB Italy (“BHB”), a leading Italian manufacturer of sponge-based ingredients serving the confectionery, foodservice and modern trade industries, marking an important and relevant milestone in the company’s development.
Salpa, based in Italy, is a global leader in the production of high-quality cookie-based ingredients and inclusions for the industrial ice cream, dairy and confectionery sectors. The company is recognized for its distinctive manufacturing know-how and innovative proprietary technologies.
The acquisition is underpinned by a solid industrial rationale, as BHB brings highly complementary production technologies that strengthen Salpa’s technical capabilities and expand its product offering. This enables Salpa to serve its blue-chip multinational customers and national champions with a broader range of high-quality and customized solutions, while continuing to leverage its scale, quality standards and long-standing customer relationships.
Mauro Casagrande, founder and CEO of BHB, will retain a significant minority stake and continue to lead the business, ensuring continuity and preserving the entrepreneurial culture and technical know-how of the company.
Stefano Cavallari, CEO of Salpa, commented, “This acquisition represents a key milestone for Salpa given it is the first in our history. We are pleased to partner with Mauro and his team, whose manufacturing know-how and expertise represent a strong industrial fit with Salpa’s. This step supports our ambition to further deepen the relationships with our customers and expand our reach across additional end markets, by offering a broader product range, while remaining fully focused on quality and operational excellence.”
Mauro Casagrande, CEO of BHB, added, “Joining Salpa is a natural evolution for BHB. Becoming part of a world-class industrial group with a strong reputation and long-term vision provides a solid platform to further develop our business. At the same time, it allows us to preserve the entrepreneurial spirit, technical know-how and customer focus that have always defined BHB. I look forward to working closely with Stefano and the Salpa team.”
Riccardo Collini, Partner at Apheon, commented, “Salpa, by completing its first acquisition, marks an important step in the company’s growth journey. Since our investment, we have worked closely with management and the Cherubini family to strengthen Salpa’s industrial footprint, also through selective M&A. BHB is exactly the type of acquisition we aim to support: a well-positioned business with complementary technologies that reinforces Salpa’s long-term development.”
About Salpa
Founded in 1934 near Perugia (Italy) by the Cherubini family, Salpa is a global leader in the production and distribution of high-quality cookie-based ingredients such as ice cream cookies, decorations and gluten-free bakery products for the ice cream, dairy and confectionery industries. Salpa owns three production plants spread over an area of ~90 thousand square meters, with over 250 employees. Thanks to its unparalleled R&D and production know-how, Salpa is the reference partner of major multinational ice cream and yogurt manufacturers and some of the most renowned confectionery groups for their iconic and highly customized products.
For more information, visit www.salpa.it
About BHB Italy
Founded in 2001 and headquartered in Treviso (Italy), BHB is an Italian manufacturer of sponge-based ingredients serving the foodservice, confectionery and modern trade channels in Italy and Europe. From a small family-run bakery, BHB has developed into an industrial player operating a ~4 thousand square meters facility with fully automated production lines, enabling a high degree of customization in formats, shapes, sizes and applications, including both semi-finished products and ready-to-use solutions.
For more information, visit www.bhbitaly.it.
About Apheon
Apheon is a pan-European mid-market private equity investment company managing ~€4.5 billion of assets from select global institutional investors and families. Apheon is characterized by its partnership approach, providing “patient and friendly capital” and industrial know-how to entrepreneurs and management teams, preparing their companies for the future. Through its pan-European footprint, the firm acts as a gateway into Europe for companies in the mid-market. Since its founding in 2005, Apheon has raised more than €5.0 billion in capital, invested in over 40 companies across Europe and completed ~200 add-on acquisitions for a total aggregate transaction value in excess of €7 billion. Apheon’s current portfolio consists of 23 companies across its target sectors, representing €3.5 billion sales and more than 20,000 employees. Apheon is advised by Apheon Advisors, which has offices in Brussels, Milan, Madrid, Paris, Munich and Amsterdam.
For more information, please visit www.apheon.com.
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Apheon
John Mansvelt, COO, Apheon
jm@apheon.com
T: +32 2 213 60 90
Natalia Yek, Head of Investor Relations, Apheon
ny@apheon.com
T: +32 2 213 60 90
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