IDAK Food Group has continued its acquisition spree with a deal for the France-based bakery business Onoré.
Located in Toulouse, Onoré supplies customers in Europe with bakery products, pastries, desserts and Cornish pasties.
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In France, its brands include Boncolac in bakery and snacks, Mag’M macarons and So Mochi ice cream. In the UK, Onoré makes and markets Proper Cornish pasties and Cakesmiths cakes.
Operating five production plants in France and two in the UK employing over a 1,000 staff, the company generated a turnover last year of more than €220m ($256.8m).
Onoré will widen IDAK’s geographical reach. IDAK is mainly focused on the Swiss and Italian markets for pizza, snacks, finger foods and bakery.
IDAK, which is backed by private-equity firm TowerBrook Capital Partners, did not disclose the purchase price.
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By GlobalDataThe transaction involves the purchase of a majority interest from Waterland Private Equity and the rest to be acquired from the Onoré management team, a spokesperson for IDAK confirmed.
The deal is expected to close in the current half of this year but is subject to regulatory approval.
IDAK CEO Christof Lehmann said in a statement: “IDAK and Onoré complement each other perfectly to form a unique and leading company in the premium frozen-food sector in Europe.
“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.”
With a number of recent deals under its belt, IDAK is generating annual sales of more than SFr330m ($413.6m) with a staff of around 1,300.
The most recent of those deals was Sorrento Sapori e Tradizioni, an Italian pizza producer IDAK acquired last year for an undisclosed sum.
It also struck a deal for fellow Swiss bakery business Kern & Sammet earlier in 2025. In 2024, IDAK bought a majority stake in another pizza company in Italy, ProPizza, through its subsidiary Margherita.
Switzerland’s Romer’s Hausbäckerei was also brought on board in 2023 through a majority interest.
Commenting on entering the IDAK stable, Onoré CEO Alexandre Vigneron said: “We are delighted with this transaction, which would give Onoré a new international dimension.
“We share the same DNA as IDAK and look forward to starting to build our common future. Together, we will continue to craft signature products inspired by European cuisines in bakery, pastry and snacks.”
