Switzerland’s IDAK Food Group is offloading potato products and snacks manufacturer Kadi to local private-equity firm Invision.
Zug-based Invision will hold a majority stake in Kadi, while the company's management will retain a minority holding.
Kadi, based in Langenthal, was the core asset behind the strategy that led to the creation of the current IDAK Food Group.
Invision and fellow private-equity firm Nord Holding acquired a majority stake in the business in 2018.
The investors then used Kadi as the platform to build IDAK Food Group into a pan-European frozen-food group.
Invision and Nord Holding exited that investment in 2024, selling their majority stake to TowerBrook Capital Partners.
Now Kadi is returning to Invision’s ownership as IDAK Food Group reshapes its portfolio around baked goods.
The move follows the group’s January acquisition of French bakery business Onoré.
Based in Toulouse, Onoré is a supplier of bakery products, pastries, desserts and Cornish pasties to customers across Europe.
IDAK Food Group employs about 2,400 people and generates annual turnover of more than SFr480m. Its brands include Romers Hausbäckerei, Margherita, Gusto Sorrento and ProPizza.
The group manufactures frozen food products at 18 sites, mainly for retail and foodservice customers, and distributes them to more than 50 countries.
Kadi makes chilled and frozen products. In 2025, the company employed around 190 people and generated turnover of more than SFr90m ($110.5m).
IDAK Food Group has decided to focus exclusively on baked goods and said the split from Kadi will play a “key role in enabling both companies to pursue their respective growth strategies with sharper focus”.
Alexandre Vigneron, the CEO of IDAK who joined the group through the acquisition of Onoré, said: “With our clear concentration on the baked goods sector, we are sharpening our strategic focus on high-quality bakery products that are sold and consumed worldwide. Furthermore, highly complementary production processes will enable us to target our investments more effectively, strengthening our competitive position and accelerating our international growth.”
Kadi will continue to be run by its existing management team under Invision's ownership.
Christof Lehmann, the former CEO of IDAK Food Group, will become chairman of the board of directors at Kadi. He will remain on the IDAK Food Group board.
