During 2025 and the first quarter of 2026, the food sector stood out as one of the most active segments in the European M&A market. Spain ranked among the top three countries by deal volume. In addition, the agrifood value chain continues to provide fertile ground for consolidation, spanning everything from food processing to specialized distribution.
Consolidation Driven by the New Consumer
What is the average buyer looking for in 2026? Typically, it is an industrial group focused on three priorities: scale, product portfolio expansion, and exposure to emerging consumer trends. These trends are reshaping the supermarket landscape, with two standing out in particular:
Deals Defining the Quarter
The broader picture reveals a highly active market. During the quarter, the food manufacturing industry recorded 63 transactions across the EU, wholesale trade registered 21 deals, and beverage manufacturing accounted for 17 transactions.
The Europastry Case: A Consolidator’s Playbook
Europastry is one of the leading players in the frozen bakery sector. Its trajectory illustrates how a European champion is built in today’s market. Domestically, the company continues to pursue selective organic growth while simultaneously advancing an ambitious international strategy based on acquisitions and strategic expansion.
Its recent moves demonstrate this approach. Europastry acquired Dutch companies DeGroot Edelbak and Van Eck, entered exclusive negotiations with Highland Baking Company in the United States, and expanded into Southeast Asia through the acquisition of a 60% stake in Art of Baking in Thailand. This latest transaction serves as a regional platform aimed at boosting exports to key markets such as Japan, the Philippines, and Singapore.
Implications for Sellers and Buyers
For owners of food businesses, current market conditions are exceptionally favorable: liquidity remains abundant, industrial demand is strong, and buyers are willing to pay premiums for assets that provide scale, strong brands, or exposure to high-growth consumer categories.
For buyers, the competitive advantage no longer lies in identifying acquisition targets—the universe of potential assets is already well known—but rather in structuring transactions effectively and executing post-merger integration with discipline.
Conclusion
The consolidation of Spain’s food sector is not a temporary wave but a structural trend driven by historical market fragmentation, increasing international competition, and rapidly evolving consumer preferences.
Business owners who prepare well in advance—and buyers who implement rigorous acquisition processes—are the ones shaping the industry that will emerge by 2030.
Download the full report at the following link:
https://www.onetoonecf.com/es/el-sector-alimentario-en-el-centro-de-la-consolidacion-europea-de-ma/
About ONEtoONE
Selling or acquiring a company is a complex process that benefits significantly from specialized advisory services. At ONEtoONE Corporate Finance, we combine deep sector expertise, proprietary technology, and a global presence in more than 50 countries to help entrepreneurs maximize the value of their transactions.
If you are considering a sale, acquisition, or strategic move in the food sector, we invite you to contact us for a confidential conversation.
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