Combined platform formed by Foo Seng, a leading manufacturer of premium frozen Asian snacks, and Varachaux, a B2B food manufacturer of frozen meat and plant-based food ingredients.

Objective

Investing alongside a highly committed management team to support Almma in becoming a leading pan-European platform in premium frozen snacks and food solutions, benefitting from structural growth in Asian, halal and savoury snacking. The partnership aims to accelerate organic and international growth by leveraging Foo Seng’s strong brand recognition, product quality and commercial reach, repositioning Varachaux towards higher value-added branded and private-label snack manufacturing through its industrial and R&D capabilities, expanding across retail and foodservice channels, professionalizing the organization, and pursuing selective acquisitions in France and other attractive European markets.

ENTRY
July 2026
TREND

Changing Life/Consumer Behaviors; Supply Chain Resilience

COUNTRY

France

SECTOR

Consumer; Niche Industrials

The Team

Wolfgang De Limburg
Wolfgang de Limburg
Managing Partner | 
Belgium, France, Germany
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Adrien Hautefeuille - Team Apheon
Adrien Hautefeuille
Director | 
France
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Alexandre Larnicol - Apheon Team
Alexandre Larnicol
Principal | 
France
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Margaux Reynaud
Margaux Reynaud
Analyst | 
France
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Sustainability generates long-term and higher value

Apheon’s ambition is to contribute to the development of sustainable finance by placing sustainability at the core of its strategy and demonstrating by example that it delivers higher and better value for portfolio companies and investors.
 
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