Project Orange– Integrated Beverage Platform

Project Orange is an established Thai beverage company with 30+ years of industry experience, operating an integrated platform focused on branded beverages, OEM/OBM manufacturing, product development, and distribution. Project Orange has built a strong portfolio of established brands and is among the top players in Thailand’s premium juice and mineral water segments, while also serving customers through OEM and OBM manufacturing capabilities. The company offers a diversified portfolio of non-alcoholic beverages, including juice, ready-to-drink tea and coffee, electrolyte drinks, and functional beverages, supported by capabilities spanning R&D, sourcing, formulation, sterilization, filling, packaging, and distribution.

Project Orange operates a 64,000 sqm manufacturing facility, including approximately 30,000 sqm of production area, with certified manufacturing standards and multiple packaging formats, including PET and aseptic carton. Its established nationwide distribution network provides broad access across modern trade, traditional trade, convenience, foodservice, and e-commerce channels. The company is well positioned to benefit from growing consumer demand for convenient, healthier, and functional beverages, while its integrated manufacturing platform provides opportunities to further leverage existing production capacity.

The shareholders of Project Orange are open to discussions with synergistic strategic partners, particularly those who can assist with international expansion, new customer and channel development, and improve the utilization of the company’s production capabilities.

Project FIBER – Mandate for sale of a leading polyester fiber manufacturer in UAE

IdealCap is working with the owners of a well-established polyester staple fiber manufacturer in Ras Al Khaimah, UAE.

The company runs two fully automated production lines with 90 tons per day of installed capacity and full end-to-end processing from PET bottle crushing to finished fiber.

It operates from a 325,000 sq ft integrated, long-lease facility that includes production buildings and on-site staff accommodation. RAK offers strong industrial infrastructure and much lower export tariffs versus India and China.

A significant minority stake is held by a U.S. bedding manufacturer. The shareholders are considering a partial divestment under IdealCap’s exclusive mandate.

SLG Brands

We’re pleased to have supported a global beauty product incubator headquartered in Cheltenham as it completed the sale of two of its flagship haircare brands to a US consumer goods company.

Founded in 1985, SLG Brands develops its own portfolio of beauty and personal care products for both domestic and international markets. The business specialises in brand creation and licensing, having partnered with well-known high street names and celebrities for its beauty ranges including the likes of Paul Smith, Superdry, Sweaty Betty and White Fox Boutique. It is also backed by private equity firm, BGF.

SLG Brands has now sold two of its leading brands, COLAB Dry Shampoo and Johnny’s Chop Shop, to Thriving Brands, a consumer goods company based in Cincinnati, USA, backed by American private equity firm, Trive Capital.

Our Corporate Finance team, led by Partner Victoria Kisseleva, Associate Director Matthew Nolan and Assistant Manager Alex Lewis ran an international sale process on behalf of SLG Brands, engaging with numerous interested parties and then managing the commercial negotiations with Thriving Brands once it emerged as the best strategic buyer for both assets.

Thriving Brands will now be able to add COLAB Dry Shampoo and Johnny’s Chop Shop to its portfolio of consumer products, which already includes household names like Right Guard. It will also benefit from their existing distribution relationships with UK and US retailers including Tesco, Boots, Target and Walmart.

The deal will allow SLG to focus on its core licensing business while unlocking capital for future growth initiatives.

Project RetroGame

Project RetroGame designs and markets a range of accessories for major video game consoles and handheld platforms. The company offers products including controllers, charging docks, batteries, protective cases, and audio headsets. These accessories are used by gamers to enhance, protect, or power their gaming hardware across platforms such as PlayStation, Xbox, and Nintendo. RetroGame operates as a developer and distributor, selling its products through its own e-commerce website and various third-party retail channels. The company serves the consumer gaming market, providing hardware peripherals for both home and portable gaming systems.

The company has three shareholders, one of whom we have a longstanding relationship with. They are seeking to sell the business and one of the shareholders would like to roll over a substantial portion of his 40% interest.

Acquisition in Baby Food and adjacent children’s food categories: Europe & India

Indicative target profile:

Revenue range: EUR 8–30 million
Geography: Europe (preference for Eastern Europe) and India
Activity: production and/or commercialization of baby food, children’s food products or adjacent value-added food categories
Scope: targets do not need to be exclusively focused on baby food, but should have a clear strategic fit with children’s nutrition, early-age consumption or child-oriented snacking
Preferred categories: baby food, pouches, purées, children’s snacks, extruded products, biscuits and other food formats with relevance to children’s nutrition or snacking
Transaction type: full or majority acquisitions preferred

The buyer has a long-term industrial approach and is looking for companies with strong operational capabilities and potential to become part of an international growth platform in baby food, children’s nutrition and adjacent value-added food categories.

Four Seven

Buy Side Lead in Food Industry

We are currently preparing to pitch for buy-side mandates from two Turkish food manufacturing companies that are actively seeking acquisition opportunities in Europe.

The target universe primarily includes manufacturing companies operating in the following sub-sectors: snacks, dried fruits, chocolate, biscuits, ice cream, frozen food, healthy food, spices and sauces, tomato paste, pickles, canned and preserved food products.

The target companies are expected to generate annual revenues of over EUR 10 million and maintain positive EBITDA. The prospective clients are seeking to acquire a majority stake, up to 100% of the shares, with flexibility for the existing shareholders to pursue a gradual exit structure.

The clients’ focus is strictly on food manufacturing businesses. Accordingly, distribution companies and dairy product manufacturers are outside the scope of interest.

A group of investors has acquired Albert Premier

A group of investors has acquired Albert Premier, a Belgian producer of chocolate coins and mini chocolate products.

Founded in 1947 and based in Beersel, Albert Premier specializes in the production and distribution of individually wrapped chocolate coins and mini tablets for retail, foodservice and private label customers, with products sold internationally across multiple markets.

The company operates a fully integrated production model and has built a strong reputation in its niche, supported by long-standing customer relationships and a global footprint.

With the support of its new shareholders, Albert Premier aims to further expand its international presence and continue developing its product offering in a market driven by premiumization and customization trends.

Special Fruit strengthens its shareholder structure

Special Fruit has further strengthened its shareholder structure through the entry of new investors. The group is now owned by the De Roeck, Maes, Remy and Reyniers families.

This partnership is aligned with the company’s ambition to accelerate its international growth and to further strengthen its position within the value chain. For Special Fruit, the transaction ensures continuity through the Maes family, while also bringing additional firepower through the new shareholders.

The entry of these families provides not only additional capital, but also complementary expertise and a strong network. This partnership enhances Special Fruit’s ability to capitalise on opportunities in an increasingly consolidating and integrated market, supporting the delivery of its growth ambitions.

Ocean Fish Group

We’re pleased to have advised fishing and seafood processing business, Ocean Fish Group, on its sale to international fishing operator, Fortuna Ltd (Fortuna).

Ocean Fish Group is Cornwall’s oldest fishing and processing import-export business, dating back to 1740, and has been owned by the Lakeman family for generations. It has since grown into one of the UK’s few genuinely integrated ‘sea to plate’ providers, supplying UK and European retail, wholesale and food service customers, while also operating its own fishing market.

It has now been acquired by Fortuna Ltd, an international producer and exporter of seafood that is based in the Falkland Islands, in a deal in which our Corporate Finance team acted as the lead sell-side advisers.

Our Corporate Finance team prepared the business for sale by developing detailed marketing materials and running a targeted search process where we approached several potential buyers, before identifying Fortuna as a strong strategic fit to take the business forward. We then led on the negotiations and financial due diligence, managing the process through to a successful completion.

The deal has enabled Fortuna to take its first steps into the UK fishing industry. Meanwhile, Ocean Fish Group will retain its independent brand and culture but will now benefit from Fortuna’s resources, global markets and new species of fish to add to its product range. Both firms will also benefit from the strong operational synergies that exist between them, and under Fortuna’s ownership, the combined group is looking to achieve a turnover of £100 million by 2030.