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Italy-based ice-cream manufacturer Sammontana is set to merge with frozen baked goods company Forno d’Asolo. The Bagnoli family, founders of Sammontana, have partnered with investment management group Investindustrial to buy Forno d’Asolo from private-equity firm BC Partners. The family, Investindustrial and the management team will own 100% of the new group, which will have around €1bn ($1.08bn) in revenues.

Danone has sold its US-based Horizon Organic and Wallaby units to local investment business Platinum Equity for an undisclosed fee. The French giant said the organic dairy units represented approximately 3% of its global revenues. The company will retain a minority stake in the business. The Colorado-based organic units produce milk, yogurt, creamers, butter and cheese. 

Conagra Brands has offloaded its controlling stake in India’s Agro Tech Foods (ATFL) to local investors Convergent Finance and Samara Capital. Publicly-listed ATFL has a portfolio of brands including Sundrop edible oils. Conagra has “enjoyed a strong partnership” with ATFL since 1997 and became its majority shareholder in 2011.

UK-headquartered The Vegan Food Group (VFG) has made an acquisition in mainland Europe, snapping up Germany-based vegan manufacturer Tofutown. Financial details were not disclosed. The deal is the first struck since UK-based VFC Foods renamed itself The Vegan Food Group in October. VFG said the deal “positions the combined entity for profitability in 2024, with a clear line of sight for scaling group revenues beyond €100m”.