Apheon, the European private equity firm, has announced the acquisition of Alma, a newly formed French frozen food group, for an undisclosed sum.
Alma was established in April 2026 through the merger of premium frozen Asian snacks manufacturer Foo Seng and meal-components supplier Varachaux. The combined business employs around 115 people and generates around €40 million ($45.7 million) in revenue, supplying wholesalers, foodservice operators and retailers, primarily in France. Following the transaction, Alma’s chief executive Daniel Coutinho will continue to lead the company and remain a significant investor in the business.
Apheon stated that it will support Alma in further accelerating its organic growth, repositioning Varachaux towards higher-value frozen snacks and halal product ranges, and pursuing a selective buy-and-build strategy across a European market it reportedly described as “highly fragmented”.
Daniel Coutinho commented: “The acquisition of Varachaux earlier this year marks a pivotal step towards a larger and more diversified group. Apheon shares our long-term vision and brings not only the capital but the strategic support and buy-and-build expertise we need to accelerate our expansion across Europe and build a truly category-defining platform.”
Source: Just Food / Cibus Link
