📊 Q3 2025 M&A Report: Key Trends and Transactions in Spain’s Food Sector
The third quarter of 2025 marked a period of adjustment in Spain’s food sector M&A landscape. Despite a drop in the number of deals, strategic interest remains strong, reinforcing Spain’s position as a global leader in food production and processing.
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🔍 What’s happening in the food M&A market?
Q3 2025 saw 21 transactions, a decline compared to previous quarters, influenced by global economic uncertainty and the summer slowdown. However, over 70% of the deals were strategic, showing that companies continue to pursue growth and consolidation.
🥩 Most active subsectors: Meat and Fresh Produce lead the way
65% of the deals focused on food production and processing, with the meat and horticultural subsectors leading in transaction volume. Spain remains the top pork producer in the EU and a global benchmark in quality and exports.
🌍 Buyer profile in Q3 2025
- 38% cross-border transactions
- 48% domestic industrial buyers
- 24% international industrial buyers
- 28% financial investors
🏢 Featured deal: Oetker acquires KATHI
One of the quarter’s standout deals was the acquisition of Kathi Rainer Thiele GmbH by German group Oetker, strengthening its position in the baked goods segment. IMAP Germany acted as exclusive advisor throughout the transaction.
🐖 Copese Group: Vertical integration in pork production
Copese Group stands out for its fully integrated pork production model, managing everything from feed manufacturing to meat processing and distribution. With projected €150M in revenue for 2025, the company exemplifies sustainable growth and adaptability.
📈 Notable transactions in Spain
The report highlights over 30 significant deals, including:
- La Hoguera, Futur Fruits, Descif (meat)
- Hijolusa, Frucimu (fresh produce)
- Pan Delirio (artisan bakery)
- Bodeboca, Greek Frozen Yogurt (beverages and dairy)
- Global Eggs, Family Biscuits, Nestlé, Osborne
🌐 IMAP: Global leadership in mid-market M&A
IMAP ranks as the 4th global firm and the #1 independent advisor in mid-market transactions, with 171 deals in the first three quarters of 2025, totaling $10B+ in value, and 33% cross-border activity.
