Europe Food & Flavor Business Roundup: October 16–31, 2026
Europe Food & Flavor Business Roundup: October 16–31, 2026
Flavorist.com Business Intelligence · European markets · Updated November 9, 2026
The second half of October brought one of the busiest stretches of European food-industry dealmaking this year. Ahold Delhaize agreed to buy Tesco's Czech and Slovak businesses for €1.2 billion, Panzani and Cerealis moved toward a €1.8 billion pasta-and-cereals group, and Biospringer bought dsm-firmenich's ModuMax taste-modulation technology.
This roundup covers 53 business developments announced between October 16 and October 31, 2026, across the UK, Ireland, France, Germany, Italy, Switzerland, the Benelux and the Nordic countries. It focuses on acquisitions, investments, partnerships, earnings and product launches, and excludes regulatory and policy news. Each story closes with what it means for flavor and ingredient companies.
Where a deal is proposed rather than completed, or a sale is only being explored, the story says so.
Contents
- Mergers, acquisitions and ownership changes
- 1. Ahold Delhaize agrees to buy Tesco's Czech and Slovak businesses
- 2. Panzani and Cerealis enter exclusive merger talks
- 3. Biospringer acquires ModuMax taste-modulation technology
- 4. De'Longhi raises stake in La Marzocco and Eversys to 88%
- 5. Baker & Baker acquires Lazy Day Foods
- 6. Fleury Michon buys Allplants
- 7. Bluegem agrees to acquire Rispo Group
- 8. Bolton Food agrees to acquire 95% of Foodlab
- 9. Riello Investimenti takes majority stake in Italsur
- 10. Recla acquires Delicatesse
- 11. Irwin's Bakery ends 114 years of family ownership
- 12. Pip & Nut explores a possible £100 million sale
- Investments and capacity expansion
- 13. Symrise invests €27.5 million in chicken ingredients
- 14. £100 million investment in Bernard Matthews
- 15. Foyle Food Group's £15 million Omagh upgrade
- 16. Lidl commits €420 million in Munster
- 17. Little Treats Bakery moves into chocolate and protein snacks
- 18. Boparan invests in Simply Lunch
- 19. Paramount injects £5.6 million into DB Foods
- 20. NewCold opens €70 million cold store in Italy
- 21. Meala FoodTech triples European capacity
- 22. Volare opens insect-protein plant
- Partnerships and supply agreements
- Leadership changes
- Financial results
- Ingredient innovation and product launches
- 42. Planet A Foods launches Cocoa Booster
- 43. Barry Callebaut unveils Flavourcode
- 44. Roquette's gluten-free bread hydrocolloid
- 45. Tate & Lyle's reduced-oil mayonnaise toolkit
- 46. Revyve yeast protein for shakes and bars
- 47. FrieslandCampina Ingredients' clear protein platforms
- 48. Müller and Myprotein high-protein yogurts
- 49. DedCalm energy shakes
- 50. Sanpellegrino Strawberry Crema
- 51. Toblerone Pistachio Gelato
- 52. Ferrero's first Kinder Halloween range
- Market insight
- What to watch
Mergers, acquisitions and ownership changes
1. Ahold Delhaize agrees to buy Tesco's Czech and Slovak businesses for €1.2 billion
October 30 · Netherlands, UK, Czechia, Slovakia · Grocery retail
Ahold Delhaize has agreed to acquire Tesco's operations in Czechia and Slovakia, a move that significantly enlarges its Central European supermarket network. The deal carries an enterprise value of about €1.2 billion, or €1.7 billion including lease liabilities.
The Tesco businesses run more than 360 company-managed stores and over 100 franchise locations. They generate around €3.5 billion in annual sales and employ more than 14,000 people. Ahold Delhaize will fold the Czech stores into its existing Albert chain and gain a substantial foothold in Slovakia. Tesco's Hungarian business is not part of the deal, which is expected to close in late 2027.
Why it matters: Greater purchasing scale in two markets will shape supplier negotiations, private-label development and shelf access for food manufacturers, ingredient suppliers and distributors.
Sources: Ahold Delhaize; Tesco
2. Panzani and Cerealis enter exclusive talks to form a €1.8 billion food group
October 16 · France, Portugal, Belgium · Proposed merger
French pasta maker Panzani and Portuguese food producer Cerealis are in exclusive negotiations to combine. The proposed group would have an enterprise value of about €1.8 billion, revenue approaching €1 billion and nearly 1,800 employees.
Panzani, controlled by CVC Capital Partners, posted €620 million in 2025 revenue from pasta, couscous and sauces. Cerealis reported €400 million from pasta, breakfast cereals, biscuits, flour and cereal bars. The group would keep operational headquarters in Lyon and Porto, with Cerealis shareholders joining CVC, which would retain a minority stake. The merger has not been finalized.
Why it matters: The combined company would be a larger European buyer of durum wheat, cereals, sauce components and flavor systems, with room for cross-border launches and consolidated procurement.
Sources: Panzani and Cerealis; Reuters via Euronext
3. Biospringer acquires dsm-firmenich's ModuMax taste-modulation technology
October 29 · France, Netherlands, Switzerland · Flavor technology
Biospringer, the yeast and fermentation ingredients arm of Lesaffre, has bought ModuMax, a taste-modulation portfolio developed by dsm-firmenich. ModuMax reduces bitterness and astringency, masks off-notes, improves mouthfeel and enhances flavor delivery. Its main applications are high-protein drinks, plant-based milks, reduced-sugar beverages and low-fat dairy.
Biospringer will integrate the technology into its global research, application and sales network, alongside its yeast-derived ingredients for umami, kokumi and savory depth. Financial terms were not disclosed.
Why it matters: The deal lets Biospringer sell complete taste solutions rather than single ingredients, especially for products struggling with the sensory effects of sugar reduction or added protein. It also adds competition in the fast-growing flavor-modulation market.
Sources: FoodBev Media; Food Ingredients First
4. De'Longhi raises its stake in La Marzocco and Eversys to 88%
October 16 · Italy, Switzerland · Professional coffee equipment
De'Longhi has completed the €662.5 million purchase of a further 26.46% of its professional coffee division, which includes La Marzocco and Eversys. Its ownership rises from 61.56% to 88.02%, valuing the business at about €2.36 billion.
The division generated around €569 million in revenue in the 12 months to June 30, 2026, up 38%, with adjusted EBITDA of €172 million and a 30.2% margin.
Why it matters: The investment signals confidence in premium café and hospitality coffee. Growth there supports demand for flavored coffee drinks, premium syrups, cold-foam ingredients and dairy alternatives.
Source: FoodBev Media
5. Baker & Baker acquires Scottish free-from bakery Lazy Day Foods
October 29 · United Kingdom · Free-from bakery
Baker & Baker has acquired Lazy Day Foods, a Scottish maker of baked goods free from gluten, milk, eggs and nuts. Founded in 2006, Lazy Day produces about 75 permanent and seasonal lines at its Harthill site, employs around 190 people and supplies Tesco, Sainsbury's, Morrisons and Waitrose.
Baker & Baker will keep the brand, site and workforce, and plans to expand sales through its international distribution network. The deal brings its UK manufacturing network to five sites.
Why it matters: Larger bakers are consolidating the specialist free-from market. Suppliers of dairy-free flavors, egg replacers, plant-based fats, coatings, fillings and texture systems stand to benefit, since these products must stay indulgent without the ingredients that normally provide structure and taste.
Source: Food Manufacture
6. Fleury Michon buys British plant-based ready-meal brand Allplants
October 21 · France, United Kingdom · Plant-based foods
French food manufacturer Fleury Michon has acquired Allplants, the vegan ready-meal brand owned by Ella and Matthew Mills, for an undisclosed sum. Allplants is sold through Tesco, Sainsbury's, Waitrose, Ocado and Whole Foods Market.
Fleury Michon, founded in 1905, makes ready meals, sliced meats, surimi and chilled appetizers, with annual revenue above €800 million. Managing director Kerry Atack will continue to run Allplants, and Ella Mills will stay on as brand ambassador. Allplants went into administration in 2024 before passing through new ownership.
Why it matters: The deal pairs an emerging plant-based brand with established manufacturing and distribution, a model likely to be repeated. It creates openings for plant-based sauces, savory profiles and ingredients that improve the appeal of meat-free meals.
Sources: The Grocer; CMS
7. Bluegem agrees to acquire Italian frozen-food maker Rispo Group
October 16 · Italy, United Kingdom · Frozen foods
Bluegem Capital Partners has agreed to buy Rispo Group from funds managed by Europe Capital Partners. The group's brands, Rispo, Garbo, Gela and Panificio Villa, make frozen Italian specialties including arancini, supplì, stuffed olives, pinsa and focaccia.
Rispo runs four Italian plants, employs more than 250 people and serves over 750 foodservice, retail and industrial customers. It expects 2026 revenue above €90 million. Bluegem plans to grow international sales, strengthen product development and pursue further acquisitions, with management keeping a minority stake. The agreement was signed October 15 and still needs to close.
Why it matters: Investor appetite for premium frozen foods remains strong. Suppliers of Italian sauces, savory fillings, pizza flavors, cheese ingredients and frozen bakery solutions could see more demand.
Source: Bluegem Capital Partners
8. Bolton Food agrees to acquire 95% of premium seafood producer Foodlab
October 20–22 · Italy · Seafood
Bolton Food signed an agreement with 3G Capital on October 20 to acquire 95% of Foodlab, which makes smoked salmon and other chilled fish under the Fumara, Salmon & Co and 24K Riserva Oro brands. The deal had not closed at the time of reporting.
Founded in 2000, Foodlab runs a 23,000-square-meter plant in Polesine Zibello, near Parma. It processes about 3,000 tonnes of fish a year, employs around 140 people and had 2025 revenue of nearly €52 million. Bolton already owns Rio Mare, Saupiquet and Wild Planet, so the deal adds premium chilled seafood to its canned-fish portfolio.
Why it matters: The move opens opportunities for suppliers of smoke flavors, marinades, sauces, herbs, seasonings and preservation ingredients.
Sources: Foodweb; Italianfood.net
9. Riello Investimenti takes majority stake in frozen-vegetable producer Italsur
October 19 · Italy · Frozen foods
Riello Investimenti, through its Buy&Build Opportunities private-equity fund, has acquired a majority stake in Italsur, a family-owned maker of frozen vegetable-based foods. Founded in 1990 and based in Notaresco, Abruzzo, Italsur has revenue above €23 million and handles everything from raw-material selection to processing and freezing.
Most of its business is with industrial customers, though it also makes private label and sells under its own Campi Reali brand. It is the fund's third investment.
Why it matters: New investment could speed up frozen convenience-food development, with demand for vegetable seasonings, sauces, ready-meal components and herb-based flavor systems.
Sources: Riello Investimenti; Teleborsa
10. Recla acquires processed-meat maker Delicatesse
October 28 · Italy · Meat processing
Recla Group, the speck and cured-meat producer based in Silandro, has acquired Delicatesse, a maker of cooked and preserved meat products in Concorezzo, near Milan. The deal followed a financial restructuring at Delicatesse and was structured to keep its plant, customers and jobs. Recla provided funding to restart production ahead of a key seasonal sales period.
Why it matters: Recla moves beyond traditional cured meats into wider processed-meat categories, part of continuing consolidation among Italian value-added meat producers. Suppliers of smoke flavorings, curing ingredients, marinades and seasonings should watch the combined business.
Sources: Alimentando; Food Affairs
11. Irwin's Bakery ends 114 years of family ownership
October 23 · Northern Ireland · Bakery
Local investor Sam Rusk has bought the founding family's remaining stake in Irwin's Bakery, the Portadown baker established in 1912 and known for Nutty Krust bread, Veda malt loaves and potato farls. Rusk had been an investor and non-executive director for several years and backed the company's return to profit in 2023.
Irwin's reported revenue of about £30.2 million and pre-tax profit of £1.2 million for the year to September 2025. It employs around 220 people and keeps its executive team.
Why it matters: Irwin's remains a relevant customer for bread improvers, fermentation ingredients, bakery flavors, malt extracts and fillings.
Source: British Baker
12. Pip & Nut explores a possible £100 million sale
October 26 · United Kingdom · Nut butters and snacks
London nut-butter brand Pip & Nut has reportedly hired investment bank Piper Sandler to explore a sale that could value it at up to £100 million. The company makes peanut and almond butters, protein bars and snacks sold through major UK supermarkets.
Revenue rose about 50% to £26.3 million in 2025, and the business swung to a £104,000 pre-tax profit. International snack makers have been named as possible buyers, but no offer has been confirmed and no formal sale process has been announced.
Why it matters: Interest in better-for-you spreads and snacks remains strong, supporting demand for nuts, roasted flavors, chocolate inclusions and plant proteins.
Source: Food Manufacture
Investments and capacity expansion
13. Symrise invests €27.5 million in chicken-ingredient production in France
October 22–23 · France, Germany · Savory flavor ingredients
Symrise has expanded its chicken-ingredient plant at Berric, France, after a €27.5 million investment in a new cooking line and advanced spray-drying equipment. The upgrade increases capacity, flexibility and supply reliability for customers in Europe and beyond.
The site makes chicken powders, broths, fats, pieces and flavor solutions, which Symrise combines with its wider flavor-creation and application expertise.
Why it matters: The investment strengthens the European savory supply chain. Makers of soups, sauces, noodles, ready meals, snacks and processed meats gain more reliable access to chicken-based taste ingredients.
Source: Food Ingredients First
14. Boparan Private Office plans £100 million investment in Bernard Matthews
October 19 · United Kingdom · Poultry
Boparan Private Office plans to invest £100 million in turkey producer Bernard Matthews. Most of the money will go to the Halesworth, Suffolk, site, which processes about 100,000 turkeys a week, covering buildings, staff facilities, processing equipment, refrigeration, digital systems and robotics. The program has been announced; the spending is still to come.
The company is also moving beyond seasonal products with new lines such as Gochujang Turkey Strips and Moroccan Style Turkey Koftas, aimed at shoppers looking for convenient, high-protein food with international flavors.
Why it matters: Capacity investment paired with globally inspired products creates demand for marinades, seasoning blends, meat flavors and processing aids.
Source: Food Manufacture
15. Foyle Food Group plans £15 million upgrade to Omagh beef plant
October 21 · Northern Ireland · Beef processing
Foyle Food Group will spend £15 million modernizing its beef-processing site in Omagh. New equipment and automation will improve processing efficiency, packaging, product consistency and energy use. Invest Northern Ireland is contributing about £2.9 million, and the project will create seven jobs.
Why it matters: Automation helps processors deliver consistent specifications and more differentiated prepared-meat products, opening opportunities for beef flavor systems, marinades, cooking sauces and industrial seasonings.
Source: Food Manufacture
16. Lidl commits €420 million to stores and distribution in Munster
October 23 · Ireland · Retail and logistics
Lidl will invest €420 million across the Irish province of Munster, including €306 million in County Cork. The plan includes a €200 million distribution center at Little Island, 14 new stores and the redevelopment of 10 more. It is expected to create about 500 permanent jobs, 250 of them in Cork, as part of Lidl's five-year Irish expansion.
Why it matters: More stores and stronger logistics open new routes to market for packaged-food, bakery, beverage and private-label suppliers, including those developing products for Irish shoppers.
Source: Food Manufacture
17. Little Treats Bakery gets £500,000 to move into chocolate and protein snacks
October 26 · United Kingdom · Bakery and snacks
Boparan Private Office is investing £500,000 in Little Treats Bakery in Winsford, Cheshire. The money funds a new production line and about 50 jobs, taking the biscuit maker into chocolate and protein clusters.
Little Treats is part of Roberts Bakery, which Boparan bought in October 2024. The site has been rebuilding since a serious fire in 2023 and now produces about 100 million biscuits a year.
Why it matters: Indulgent snacks with a protein angle need chocolate coatings, nut inclusions, cereal clusters, binders and flavor systems that hold up in high-protein formats.
Source: Food Manufacture
18. Boparan invests in food-to-go maker Simply Lunch
October 28 · United Kingdom · Food to go
Ranjit Singh Boparan has also invested in Simply Lunch, a South London maker of sandwiches, wraps, salads, sushi, snack pots and bakery products. The investment came through 11:11 Capital Partners, the Boparan fund that takes strategic stakes while founders keep significant ownership. Simply Lunch supplies retailers, travel operators, convenience chains and independent foodservice customers. Terms were not disclosed.
Why it matters: Food-to-go makers are important customers for sauces, fillings, dressings, seasonings and bakery ingredients, where consistency and shelf life are essential.
Source: British Baker
19. Paramount Food Group injects £5.6 million into meat wholesaler DB Foods
October 29 · United Kingdom · Meat distribution
Paramount Food Group, which acquired DB Foods in August 2025, is investing £5.6 million in the Poole-based wholesale meat supplier. The funds will improve operations, customer relationships and financial and commercial systems.
DB Foods supplies independent butchers, caterers, chains such as Wagamama and Popeyes, and retailers including Tesco, Aldi and Ocado. It also runs depots in Banbury and Cornwall and reported turnover of £202.9 million for an extended period ending December 2025.
Why it matters: Stronger wholesale distributors can add value-added lines such as marinated meats and prepared proteins, increasing demand for sauces and seasonings.
Source: Food Manufacture
20. NewCold opens €70 million automated cold store in Italy
October 20 · Netherlands, Italy · Cold-chain logistics
Dutch cold-chain specialist NewCold has opened a €70 million automated storage facility in Ferentino, Italy, with about 62,000 pallet positions. A dedicated tunnel links it directly to a neighboring Froneri ice cream plant, so finished goods move straight into storage without trucks. The site extends NewCold beyond northern Italy and is expected to support 150 to 200 jobs.
Why it matters: Reliable cold-chain capacity supports higher-volume ice cream production and wider distribution, which matters to flavor and ingredient suppliers serving frozen desserts.
21. Meala FoodTech triples European capacity for egg-replacing pea protein
October 28 · France, Germany · Plant protein
Israeli ingredient company Meala FoodTech has more than tripled production capacity at its French and German facilities. The plants make pea-protein ingredients that replace eggs in bakery and add texture to alternative-protein products.
Meala says its planned 2027 output could replace the equivalent of 82,000 eggs a day, with ingredient cost savings of 30% to 40% in some bakery applications. Manufacturers can use it without changing existing processes.
Why it matters: Egg replacement is a major challenge for vegan and allergen-conscious bakery. Better plant-protein functionality opens room for complete systems combining proteins, bakery flavors, emulsifiers and texture modifiers.
Source: Food Ingredients First
22. Volare opens industrial insect-protein plant and raises €7.1 million
October 26 · Finland · Feed ingredients
Finnish company Volare has completed its first industrial-scale plant in Pori and raised €7.1 million. The 10,000-square-meter factory, built within a €15 million budget, can produce up to 5,000 tonnes of insect protein and 2,000 tonnes of insect oil a year. Black soldier fly larvae convert food-industry byproducts, such as grain residues, into ingredients for animal feed and pet food.
Why it matters: The plant mainly serves animal nutrition rather than human food. It is relevant to companies in aquaculture, pet food and feed, including makers of palatability enhancers.
Source: FoodBev Media
Partnerships and supply agreements
23. Azelis extends Biospringer yeast-ingredient distribution to the Nordics
October 27 · Belgium, France, Nordic countries · Ingredient distribution
Belgian specialty distributor Azelis will now distribute Biospringer by Lesaffre's yeast extracts, yeast proteins and other yeast-derived ingredients in Denmark, Finland, Norway and Sweden. The agreement took effect October 1 and builds on existing cooperation in Poland and Türkiye. Azelis provides local sales, technical support and formulation expertise.
Why it matters: Yeast extracts and proteins build umami, kokumi, meaty notes and depth in soups, sauces, snacks, ready meals and plant-based foods. Nordic manufacturers gain easier access to fermentation-derived taste ingredients for clean-label savory products.
Source: Azelis
24. Freshways wins €45 million supply contract with Tesco Ireland
October 27 · Ireland · Chilled convenience food
Freshways, part of Samworth Brothers, has signed a three-year, €45 million agreement to supply Tesco Ireland with sandwiches, wraps, salads and pasta dishes for its meal-deal and convenience ranges. That works out to about €15 million a year.
Freshways has supplied Tesco Ireland for more than 20 years and currently provides over 40 lines, including the Crust & Co range. The contract follows an €8 million upgrade at its Finglas plant that added capacity, storage and refrigeration. Tesco Ireland sells around 70,000 meal deals a week.
Why it matters: Retailers continue to back chilled convenience meals, sustaining demand for sandwich sauces, dressings, pasta sauces, fillings and seasonings built for refrigerated foods.
Source: British Baker
25. Black Sheep Coffee signs franchise deal for 20 more stores in northern Britain
October 29 · United Kingdom · Coffee retail
Black Sheep Coffee has agreed with SUR Group, its largest franchise partner by store count, to open at least 20 new outlets over five years. They will cover West Yorkshire, northern England and southern Scotland, including Northumberland, Cumbria and Dumfries and Galloway, creating about 300 jobs. SUR already runs seven Black Sheep stores in western Scotland. This is separate from the chain's southern England expansion announced on October 15.
The chain is known for robusta-led coffee alongside Arabica drinks, matcha, cold drinks and bakery items.
Why it matters: Coffee-shop growth supports demand for coffee ingredients, flavored syrups, dairy alternatives, cold-foam systems, matcha and bakery products.
Sources: World Coffee Portal; Retail Times
26. JUST Egg enters Swedish supermarkets through Kale Foods
October 28 · Sweden · Plant-based egg alternatives
US company Just Food Company has launched its mung-bean-based JUST Egg in Sweden, in selected Coop stores, with Nordic plant-based distributor Kale Foods handling local distribution. The liquid product is designed for scrambles, omelets, breakfast sandwiches, pancakes and baking.
Why it matters: Egg alternatives that work in familiar recipes keep attracting retail interest, creating opportunities in savory and sulfurous egg notes, emulsification, color and texture.
Source: Vegconomist
27. Hoogwegt partners with Opalia on cell-cultivated whole milk
October 27 · Netherlands, Canada · Dairy biotechnology
Dutch dairy ingredients supplier Hoogwegt plans to buy the first production batch of cell-cultivated whole milk from Canadian start-up Opalia. The two will use it for compositional analysis and development work on cheese, yogurt and butter, and plan to show a prototype at Fi Europe.
Unlike precision fermentation, which produces individual dairy proteins, Opalia grows bovine mammary cells to make milk containing proteins, fats and sugars. The technology works at lab scale but still faces scale-up and regulatory approval before any commercial production.
Why it matters: Alternative dairy may be moving from isolated proteins toward whole-milk systems, which would open new work in cultured dairy flavors, fermentation and texture.
Source: Food Ingredients First
Leadership changes
28. Lindt & Sprüngli replaces its CEO as European chocolate demand weakens
October 19 · Switzerland · Chocolate
Lindt & Sprüngli chief executive Adalbert Lechner is leaving. Former CEO and board vice-chairman Dieter Weisskopf takes over on an interim basis, and a permanent CEO is expected in the second quarter of 2027. Leadership in Germany and Austria is also changing.
The move follows weaker European results and two cuts to Lindt's 2026 sales outlook. Chocolate makers are squeezed by high cocoa costs, repeated price increases and more price-sensitive shoppers, with Germany a particular weak spot. Lindt has not changed its full-year outlook because of the CEO change.
Why it matters: The shake-up is a clear signal of pressure in European chocolate. It reinforces demand for cost-efficient premium recipes and ingredients that protect taste while reducing raw-material spend.
Sources: Lindt & Sprüngli; Reuters
29. Samworth Brothers names Steve Murrells as next chief executive
October 28 · United Kingdom · Food manufacturing
Samworth Brothers, owner of Ginsters, Soreen and West Cornwall Pasty Co., has appointed Steve Murrells as chief executive from January 2027. Murrells previously ran Hilton Foods and was group CEO of the Co-op. He succeeds Simon Wookey, who has led the business since 2024 and retires in June 2027, allowing a handover of several months.
Why it matters: Samworth Brothers is a major supplier of savory pastries, baked goods and chilled convenience food to UK retailers and foodservice, and its Freshways unit has just secured a large Tesco Ireland contract (see story 24). A new CEO may reshape investment, product development and procurement.
Source: Food Manufacture
Financial results
Third-quarter results showed ingredient suppliers and premium beverages growing, while mainstream culinary categories stalled.
| Company | Headline growth | What stood out |
|---|---|---|
| Kerry Group | 4.1% volume growth | Guidance maintained |
| Symrise (Taste, Nutrition & Health) | 5.2% organic | Naturals up double digits |
| Azelis | 8.2% organic | Food-related Life Sciences in EMEA down 3.1% |
| Nestlé | 4.0% organic | Europe up 1.2% |
| Danone | 4.0% like-for-like | High-protein and gut health |
| Unilever Foods | 0.1% underlying | Volumes down 1.1% |
| Magnum Ice Cream Company | 9.6% organic | Full-year forecast raised |
| Oatly | 9.1% revenue | Europe & International up about 20% |
| Heineken | 4.8% volume | Premium volumes up 11.5% |
| Carlsberg | 3.0% organic | Alcohol-free beer up 11% |
| Campari | 3.4% organic | Europe up 8% |
| Rémy Cointreau | 2.9% organic (first half) | Cognac up 12.4% in Q2 |
30. Kerry Group reports faster volume growth in taste and nutrition
October 22 · Ireland · Flavors and ingredients
Kerry Group's third-quarter volumes rose 4.1%, taking year-to-date growth to 3.6%. EBITDA margin improved by 50 basis points, helped by its Accelerate 2.0 efficiency program. Pricing was slightly positive in the quarter but remains negative for the year so far.
Kerry credited stronger international demand, including foodservice innovation and retail reformulation projects, and continued investment in taste technology, biotech-enabled ingredients and manufacturing. It kept full-year earnings guidance and signaled another share buyback.
Why it matters: As one of the world's largest suppliers of flavors, seasonings and taste-modulation systems, Kerry is a useful gauge of demand. Its results suggest manufacturers are still spending on reformulation and innovation despite tough conditions.
Source: Kerry Group
31. Symrise reports 5.2% organic growth in Taste, Nutrition & Health
October 28–29 · Germany · Flavor ingredients
Symrise's Taste, Nutrition & Health segment grew 5.2% organically in the third quarter, with sales rising to about €790 million from €736 million, driven by volumes and modestly positive pricing. Nine-month segment sales reached about €2.32 billion.
Within Food & Beverage, natural ingredients grew by double digits, sweet flavors by high single digits and savory by mid single digits. Beverage ingredients dipped slightly. Symrise expects group organic growth near the midpoint of its 2% to 4% target range.
Why it matters: The breakdown shows where customers are spending: natural extracts, sweet profiles and savory systems.
Source: Food Ingredients First
32. Azelis reports 8.2% organic growth as specialty distribution recovers
October 22 · Belgium · Ingredient distribution
Azelis reported third-quarter revenue of €1.12 billion, with 8.2% organic growth and 8.5% growth at constant currency. Adjusted EBITA rose 14.6% to €114 million. EMEA revenue was €499 million, up 7.5% organically, but the region's Life Sciences business, which includes food and nutrition, fell 3.1%. Industrial Chemicals did much better. Azelis also booked a €350 million non-cash goodwill impairment, mainly tied to past acquisitions in the Americas.
Why it matters: Specialty distribution is recovering overall, but the weak Life Sciences figure shows that food-ingredient end markets are not all bouncing back at the same pace.
Source: Azelis
33. Nestlé sees European volumes recover and strong beverage growth
October 22 · Switzerland · Packaged food and beverages
Nestlé's third-quarter organic growth was 4.0%, with 2.8% real internal growth and 1.1% pricing. Europe grew 1.2% organically, with real internal growth of 1.0%, and nine-month European sales reached CHF 13.7 billion. European food and snacks improved on the previous quarter, though competition and price sensitivity remain tough.
Globally, Food & Snacks grew 5.0%, Waters & Premium Beverages 12.3% and coffee 3.4%.
Why it matters: Momentum is strongest in premium beverages, with selective recovery in packaged food, a guide to where Nestlé may focus innovation spending.
Source: Nestlé
34. Danone posts €7.23 billion in quarterly sales as dairy and nutrition grow
October 28 · France · Dairy and nutrition
Danone's third-quarter sales were €7.23 billion, up 4.0% like-for-like, with pricing contributing 3.6 points and volume/mix 0.4 points. EMEA grew 3.9%, led by essential dairy, plant-based and water. Essential Dairy and Plant-Based grew 3.6% globally and Specialized Nutrition 4.7%. Danone reaffirmed its 3% to 5% full-year guidance and highlighted demand for high-protein and gut-health products.
Why it matters: Health-led dairy keeps growing, supporting demand for fermented dairy flavors, protein-compatible taste systems, botanicals and fruit preparations.
Source: Danone
35. Unilever's Foods business stalls as the wider group grows
October 28 · United Kingdom · Sauces, condiments, cooking aids
Unilever's group underlying sales grew 5.2%, but Foods managed only 0.1%. The division generated about €3.1 billion in the quarter, 23% of group revenue. Volumes fell 1.1%, offset by 1.3% pricing. Unilever cited softer demand in developed markets and tougher competition in some condiment categories. Cooking aids and condiments were broadly flat, while Unilever Food Solutions grew modestly.
Unilever said the planned combination of its Foods business with McCormick, announced earlier, remains on track.
Why it matters: Flat sales point to intense competition and price pressure in mature sauce and seasoning categories, increasing demand for differentiated recipes and cost-efficient formulations.
Sources: Unilever trading statement; Unilever Foods breakdown
36. Magnum Ice Cream Company raises its forecast after a long European summer
October 29 · Netherlands · Ice cream
The Magnum Ice Cream Company reported third-quarter revenue of about €2.5 billion, up 12.1%. Organic growth was 9.6%, from 7.3% volume and 2.2% price. Europe and Australia/New Zealand grew 8.9% organically. An unusually long European summer added an estimated two to three points.
Magnum, Ben & Jerry's, Cornetto and Solero all performed well, and Magnum La Pistache was a standout launch. The company raised its full-year organic growth forecast to about 5.5%, from 3% to 5%.
Why it matters: Premium frozen desserts are in demand, keeping pistachio, indulgent inclusions, premium coatings, fruit profiles and texture systems firmly on the innovation agenda.
Source: Magnum Ice Cream Company
37. Oatly grows European revenue by about 20% but cuts its profit outlook
October 28–29 · Sweden · Plant-based beverages
Oatly's third-quarter revenue rose 9.1% to US$243.1 million. Europe & International grew about 20%, led by Barista products, and Oatly says its European retail sales are growing at roughly twice the rate of the oat-milk category. Adjusted EBITDA roughly tripled to US$9.4 million, but full-year guidance was cut to US$16–20 million from US$25–35 million because of higher freight and fuel costs in North America.
Why it matters: European demand for barista-style plant milks is healthy, but revenue growth alone does not secure profits. Opportunities lie in oat-base formulation, coffee compatibility, mouthfeel and masking cereal off-notes.
Source: Vegconomist
38. Heineken grows premium volumes 11.5% as low- and no-alcohol expands
October 28 · Netherlands · Brewing
Heineken's third-quarter volumes rose 4.8% and net revenue 4.6%. Premium volumes grew 11.5%, international brands 9.9% and the Heineken brand 9.7%. Low- and no-alcohol grew by double digits, led by Heineken 0.0 and Heineken Ultimate, and beyond-beer products grew in the mid teens, helped by Desperados. All four regions, including Europe, grew.
Why it matters: Premium and alcohol-free drinks are reshaping brewing, driving demand for ingredients that recreate beer aroma, bitterness, body and mouthfeel without alcohol.
Source: Heineken
39. Carlsberg's soft drinks and alcohol-free beer outpace premium beer
October 29 · Denmark · Beverages
Carlsberg's third-quarter revenue was DKK 25.28 billion, up 4.9% reported and 3.0% organically. In Western Europe, organic revenue rose 2.5% and volumes 0.3%. Soft-drink volumes grew 9%, alcohol-free beer 11% and beyond-beer 3%, while Pepsi volumes rose 18%. Premium beer fell 3%. Carlsberg kept its forecast of 4% to 6% organic operating profit growth.
Why it matters: Brewers increasingly depend on soft drinks and alcohol-free beer, supporting demand for beer-like flavors, botanical extracts and taste solutions for alcohol-free products.
Source: Carlsberg Group
40. Campari's European sales grow 8% on aperitif demand
October 28 · Italy · Spirits
Campari's third-quarter net sales were about €777 million, up 3.4% organically. Europe grew 8%, while North America fell about 2%. Nine-month organic growth was 2.9%, driven by aperitifs and tequila. Campari kept its target of about 3% organic growth despite softer US demand.
Why it matters: European appetite for aperitifs and cocktails is strong, supporting bitter botanicals, citrus oils, herbal blends and flavor systems for ready-to-drink cocktails.
Sources: Campari Group; Reuters via Euronext
41. Rémy Cointreau sees a Cognac recovery while European spirits stay uneven
October 27 · France · Spirits
Rémy Cointreau's first-half sales for fiscal 2026–27 were €510.9 million, up 2.9% organically. Second-quarter growth accelerated to 4.2%, with Cognac up 12.4% on stronger demand in Asia-Pacific, especially China, and EMEA. Liqueurs & Spirits fell 7.4% in the quarter, with parts of Europe still weak even as the UK returned to growth. Full-year targets were maintained.
Why it matters: Performance is diverging across spirits categories, keeping barrel-aged, fruit, botanical and cocktail profiles important for premium products.
Source: Rémy Cointreau
Ingredient innovation and product launches
42. Planet A Foods launches Cocoa Booster to cut reliance on cocoa powder
October 27 · Germany, Switzerland · Cocoa alternatives
Munich-based Planet A Foods has introduced Cocoa Booster, a single-ingredient alternative to cocoa powder in natural, alkalized and dark versions. The company says it matches the taste and color of conventional cocoa powders and can partly or fully replace them in baked goods, fillings, desserts and drinks.
Cocoa Booster contains about 69 grams of fiber per 100 grams, against roughly 37 grams in cocoa powder. Barry Callebaut, already a Planet A partner, will distribute it through its global sales and R&D network.
Why it matters: With cocoa prices volatile, a credible replacement offers cost control, supply diversification and higher fiber without abandoning familiar chocolate flavor.
Sources: Planet A Foods; Food Ingredients First
43. Barry Callebaut unveils Flavourcode fermentation-based chocolate
October 29 · Switzerland, Belgium · Chocolate
Barry Callebaut has presented Flavourcode, a platform that uses controlled cocoa fermentation to create distinctive chocolate flavors. The first product, Flavourcode 01, is a 70% dark chocolate with tropical and ripe-fruit notes, shown in biscuits, confectionery and ice cream at the company's Antwerp innovation event.
Milk and dark variants are in development, and Flavourcode will be available to European artisan and industrial customers from November 2026. Barry Callebaut is also testing whether the approach can support higher-cocoa, lower-sugar chocolate by adjusting perceived bitterness.
Why it matters: Flavor is being shaped earlier, during fermentation, rather than mainly through roasting, added flavors or cocoa percentage, opening new premium options for chocolate applications.
Source: Food Ingredients First
44. Roquette launches hydrocolloid for better gluten-free bread
October 27 · France · Bakery texture
Roquette has launched Wellence GF 1229, a cellulose-based hydrocolloid for gluten-free loaves, rolls, bagels and pizza dough. In Roquette's own trials it raised loaf volume 23% against a market benchmark and cut bread hardness by about half after 21 days. It works at low inclusion rates and fits existing production lines.
Why it matters: Removing gluten affects elasticity, gas retention, crumb and shelf life. Better structure lets gluten-free bread carry more ambitious flavors, such as sourdough, fermented and specialty-grain notes.
Source: Food Ingredients First
45. Tate & Lyle launches toolkit for reduced-oil, egg-free mayonnaise
October 16 · United Kingdom · Sauces and condiments
Tate & Lyle's new Clean Label Mayonnaise Solutions Toolkit helps manufacturers cut oil and egg without losing texture or stability. It combines the company's Sensation sensory platform with Claria clean-label starch and Nutrava citrus fiber, using consumer texture research to set targets for viscosity, elasticity and creaminess. One project produced an egg-free dressing with just 10% oil.
Why it matters: Cutting oil and egg changes flavor release, mouthfeel and acidity perception, so seasoning and flavor suppliers have a role in rebalancing these products.
Source: Food Ingredients First
46. Revyve launches yeast protein for shakes and bars
October 27 · Netherlands · Fermentation-derived protein
Revyve, a Wageningen University & Research spin-off, has extended its yeast-protein technology, already used for egg replacement in bakery and sauces, to protein shakes and bars. The company says its process retains functional components that give smooth, creamy drinks and soft, chewy bars, avoiding the grittiness and off-notes of some whey and plant proteins. The ingredient has a PDCAAS score of 1, the maximum, and adds fiber.
Why it matters: High-protein products gain an alternative to dairy and plant proteins. Flavor houses can help by tuning sweetness, masking yeast notes and improving mouthfeel.
Source: Vegconomist
47. FrieslandCampina Ingredients targets concentrated nutrition and clear protein drinks
October 22–27 · Netherlands · Dairy ingredients
FrieslandCampina Ingredients has introduced two platforms. The first covers concentrated nutrition such as bars, bites and shots, including Protein NutriBites with 15 grams of protein and 8 grams of fiber in three pieces. The second focuses on protein hydration, built on Nutri Whey Isolate Clear PA, a pre-acidified whey isolate for clear beverages such as protein water, sparkling protein drinks and reduced-sugar drinks with prebiotic fiber.
Why it matters: Clear protein drinks require careful management of acidity, sweetness, heat stability, clarity and protein off-notes, which creates demand for fruit and botanical flavors and complete formulation systems.
Sources: Food Ingredients First; Dairy Industries International
48. Müller and Myprotein launch high-protein yogurts
October 23 · United Kingdom · Dairy
Müller UK & Ireland and Myprotein have extended their partnership with high-protein yogurts in Vanilla, Strawberry and Blueberry. Each 210-gram pot has 20 grams of protein and a recommended price of £1.50. Circana data cited by the companies shows protein products in chilled yogurts, puddings and desserts growing about 2.5 times faster than the category.
Why it matters: Protein is moving from sports nutrition into mainstream grocery, increasing demand for fruit preparations, sweetness optimization and texture solutions that manage high protein levels.
Source: FoodBev Media
49. Former FrieslandCampina executive launches DedCalm energy shakes
October 26 · United Kingdom · Functional dairy drinks
Will Jones, former managing director of FrieslandCampina UK and Ireland, has launched DedCalm, a dairy-based energy shake. Each 330-milliliter bottle has 25 grams of protein and 92 milligrams of caffeine from coffee bean extract, plus lion's mane, green tea extract, vitamin B12 and zinc. Flavors are Smooth Chocolate, Caramel Latte and Velvety Vanilla, at £2.75. The brand launches through Tesco's Accelerator program.
Why it matters: Sports nutrition, dairy and energy drinks are converging. Combining milk protein, caffeine and plant extracts in a smooth, pleasant drink is a real flavor challenge.
Source: The Grocer
50. Sanpellegrino adds Strawberry Crema in the UK
October 28 · United Kingdom · Reduced-sugar soft drinks
Nestlé has added Strawberry Crema to its Sanpellegrino Crafted Soda Italiana Zero Added Sugar range in the UK, combining strawberry with a creamy dessert profile. Each can has about 10 calories, plus vitamin B6 and magnesium. It joins Clementina, Limonata and Aranciata Rossa, moving the range beyond citrus.
Why it matters: Dessert-style flavors are merging with reduced-sugar drinks, creating demand for creamy fruit combinations, sugar-free flavor balancing and better mouthfeel in premium sodas.
Source: FoodNavigator
51. Toblerone Pistachio Gelato debuts at Istanbul Airport
October 29 · Switzerland, Türkiye · Travel-retail confectionery
Mondelēz has launched a limited-edition Toblerone Pistachio Gelato with Istanbul Airport, combining white chocolate, caramelized pistachios, pistachio paste and wafer. It follows airport exclusives such as Eton Mess with London Heathrow and Vanilla Gelato with Rome. Mondelēz uses these destination-linked flavors to test demand before any wider rollout.
Why it matters: Pistachio remains one of the hottest flavors in chocolate, bakery and desserts, supporting demand for pistachio pastes, roasted-nut flavors and gelato-style profiles.
Source: FoodNavigator
52. Ferrero launches its first Kinder Halloween range
October 27 · Italy, United Kingdom · Seasonal confectionery
Ferrero has introduced its first Kinder Halloween range, led by a Kinder Chocolate Mini Halloween Bag of individually wrapped bars. The range targets family trick-or-treating as well as adult parties, reflecting Ferrero's research on growing adult participation in Halloween. Some promotion also targets North America.
Why it matters: Seasonal ranges drive new pack formats, portion sizes and limited-edition flavors, coatings and fillings.
Source: FoodNavigator
Market insight
53. Europe's broader snacking market is worth €302 billion, Circana finds
October 28 · UK, Germany, France, Spain, Italy, Netherlands · Consumer research
New Circana analysis, reported by FoodNavigator, puts traditional snack sales across six major European markets at about €187 billion. Adding categories now eaten as snacks, such as yogurt drinks, specialty bakery, fresh foods and frozen snacks, raises the total to €302 billion. The data covers the year to April 26, 2026.
The extra €115 billion reflects a wider definition of snacking, not a year-on-year increase in spending. Circana notes that shoppers increasingly eat breakfast, lunch and dinner foods as snacks or partial meal replacements.
Why it matters: Manufacturers can find growth by adapting existing products to new eating occasions through portion size, packaging and channel, rather than relying only on new recipes.
Source: FoodNavigator
What to watch
- Consolidation is accelerating. Ahold Delhaize's Tesco deal, the planned Panzani–Cerealis combination and a cluster of Italian deals in frozen food, seafood and processed meat point to fewer, larger buyers of ingredients and flavors.
- Taste modulation is becoming strategic. Biospringer's ModuMax purchase and its wider Nordic distribution through Azelis, Planet A Foods' cocoa alternative and Barry Callebaut's Flavourcode all target better sensory performance or less exposure to volatile raw materials.
- Protein keeps going mainstream. Launches from Müller and Myprotein, FrieslandCampina Ingredients, Revyve and DedCalm show protein moving into everyday yogurts, drinks and snacks.
- Beverage makers are diversifying. Heineken, Carlsberg, Campari and Rémy Cointreau are seeing their strongest growth in alcohol-free drinks, soft drinks and selected premium categories.
- Chocolate is under pressure. Lindt's CEO change contrasts with Magnum's strong summer, while Barry Callebaut and Ferrero pursue differentiation through new flavors and seasonal ranges.
- Investment continues despite uneven demand. Symrise, Bernard Matthews, Foyle, Lidl and NewCold are all adding capacity, automation or logistics across Europe.