Proper Cornish and Cakesmiths’ French parent company Onoré has changed hands to join Swiss frozen foods group IDAK.
After three years of buy-and-build growth under private equity owner Waterland – which bought Onoré in 2022 – Onoré has acquired four distinct businesses and brought them under a shared tech, procurement and cross-selling platform.
First acquiring macaron specialist Mag’M in 2022, Onoré snapped up the UK-based pasty maker Proper Cornish and artisanal baker Cakesmiths in 2023, before picking up premium mochi ice cream brand So Mochi in 2024.
IDAK has acquired all five of Onoré’s French sites and its two English sites as part of the deal, giving the Swiss group access into the UK market.
Specialising in premium frozen products, IDAK has production sites for pizzas and snacks in Italy, and potato snacks and baked goods in Switzerland.
“IDAK and Onoré complement each other perfectly to form a unique and leading company in the premium frozen food sector in Europe,” said IDAK CEO Christof Lehmann.
“We share common strengths such as organic growth, diversification of our channels and customer base, a foothold in several countries, positioning in the premium frozen food sector, leveraging market synergies, a high degree of cultural alignment and leadership style, experience in collaboration with investors and an impressive track record in M&A.
“Accordingly, this acquisition on equal terms marks a significant milestone in the history of our company.”
Onoré CEO Alexandre Vigneron said his team was “delighted” to start working with IDAK.
“With Waterland’s support, Onoré has become a strong and ambitious group while remaining true to its artisanal DNA and its ‘French touch’,” Vigneron said.
“IDAK Food Group’s ambition is to become the pan-European leader in premium frozen foods. Together, we will complement each other perfectly to form a unique and leading company in the premium frozen food sector in Europe, while also opening up new market opportunities for our own products.”
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