Private-equity firm Apheon has acquired Alma, the new French food group created by combining Foo Seng and Varachaux.
The deal, struck for an undisclosed sum, comes just months after Asian snacks business Foo Seng and meal-components supplier Varachaux were merged to form Alma
In a statement today (7 July), Apheon said the deal “marks the beginning of a new phase of growth for Alma”, pointing to its “proven playbook for scaling businesses through targeted consolidation” in European markets. Combined, Alma employs around 115 people and generates around €40m ($45.7m) in revenue. The company supplies to wholesalers, foodservice operators and retailers, primarily in France.
Alma’s chief executive is Daniel Coutinho, who bought Foo Seng in 2023 before combining the business with Varachaux in April. He will continue to lead Alma and remain a “significant” investor in the business alongside Apheon, the new majority shareholder said. Coutinho said: “In recent years, Foo Seng has established itself as a leading player in premium frozen Asian snacks, driven by our commitment to authentic recipes, consistent product quality and culinary know-how. “The acquisition of Varachaux earlier this year marks a pivotal step towards a larger and more diversified group.