Buyer landscape
Likely buyers · FoodTech in France.
Prepared 2026-09-29 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables
How companies like this sold · 559 verified exits: 46% to sponsors, 52% to corporates and platforms, 1% via IPO, 1% other routes. Route shift since 2020: sponsors 42% (was 51%), corporates and platforms 55% (was 47%), IPO 1% (was 2%).
The list: 25 Tier 1 · 0 Tier 2 of 120 matched buyers, including 2 geographic expansion candidates without a local platform yet. A first round of the Tier 1 names plus the expansion buyers covers the demonstrated demand.
Financial buyers · 25
Tier 1 · Very High · score 70+
1. PAI Partners SponsorVery High88
58 platform investments in Consumer & Retail · 68 in France · 26 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed Refresco, 2018 · FoodTech, Netherlands
2. Bpifrance Investissement SponsorVery High88
16 platform investments in Consumer & Retail · 99 in France · 38 deals 2024–26
AUM €57.3B · Bpifrance Amorçage Industriel · 2023 vintage · deploying · check €1-8M
Accelerating: 32 deals in the last 2 years vs 5.8/yr before.
Backed Belambra, 2026 · Hospitality, France
3. Finorpa Gestion SponsorVery High88
33 platform investments in Consumer & Retail · 95 in France · 29 deals 2024–26
Hauts-de-France Avenir TPE PME · 2026 vintage · deploying
8 platform investments since the 2026 vintage · early in deployment vs its usual 32 per fund.
Backed Nutriearth, 2024 · FoodTech, France
4. EXTENDAM and Amante Capital SponsorVery High87
38 platform investments in Consumer & Retail · 21 in France · 29 deals 2024–26
AUM €5.1B · FPCI Experimental Hotels Collection · 2025 vintage · deploying · check €3-23M
Accelerating: 15 deals in the last 2 years vs 5.0/yr before.
Backed Ayre Hoteles, 2026 · Hospitality, Spain
5. Extendam SponsorVery High86
37 platform investments in Consumer & Retail · 19 in France · 28 deals 2024–26
AUM €5.1B · FPCI Experimental Hotels Collection · 2025 vintage · deploying · check €3-23M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 18 per fund.
Bought Ayre Hoteles from Eurazeo, 2026 · Hospitality, Spain
6. Extendam, Amante Capital SponsorVery High86
37 platform investments in Consumer & Retail · 20 in France · 28 deals 2024–26
AUM €5.1B · FPCI Experimental Hotels Collection · 2025 vintage · deploying · check €3-23M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 18 per fund.
Backed Ayre Hoteles, 2026 · Hospitality, Spain
7. NextStage AM SponsorVery High85
17 platform investments in Consumer & Retail · 142 in France · 21 deals 2024–26
AUM €11.6B · FCPI NextStage CAP 2026 · 2026 vintage · deploying
5 platform investments since the 2026 vintage · early in deployment vs its usual 14 per fund.
Backed La Fabrique Cookies, 2026 · Consumer, France
8. NextStage AM, BNP Développement, Bpifrance and management SponsorVery High85
16 platform investments in Consumer & Retail · 141 in France · 21 deals 2024–26
AUM €11.6B · FCPI NextStage CAP 2026 · 2026 vintage · deploying
5 platform investments since the 2026 vintage · early in deployment vs its usual 14 per fund.
Backed La Fabrique Cookies, 2026 · Consumer, France
9. Quadrivio Group SponsorVery High85
22 platform investments in Consumer & Retail · 5 in France · 14 deals 2024–26
AUM €2.0B · Artificial Intelligence PE Fund · 2025 vintage · deploying
6 platform investments since the 2025 vintage · mid-deployment vs its usual 6 per fund.
Backed Alice Pizza, 2026 · Hospitality, Italy
10. Turenne Groupe SponsorVery High84
98 platform investments in Consumer & Retail · 311 in France · 34 deals 2024–26
AUM €2.0B · Capital Sante 3 · 2025 vintage · deploying · check €3-21M
20 platform investments since the 2025 vintage · early in deployment vs its usual 80 per fund.
Backed Le Petit Souk, 2026 · E-commerce, France
11. Arkea Capital, BNP Paribas Developpement and IRD Invest SponsorVery High84
38 platform investments in Consumer & Retail · 140 in France · 25 deals 2024–26
AUM €1.3B · Arkea Capital 3 · 2025 vintage · deploying · check €1-11M
11 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Poiscaille, 2022 · FoodTech, France
12. Arkea Capital Partenaire SponsorVery High84
38 platform investments in Consumer & Retail · 139 in France · 25 deals 2024–26
AUM €1.3B · Arkea Capital 3 · 2025 vintage · deploying · check €1-11M
11 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Poiscaille, 2022 · FoodTech, France
13. Axio Capital / Siparex Intermezzo SponsorVery High84
11 platform investments in Consumer & Retail · 42 in France · 12 deals 2024–26
AUM €80M · Together (TGT) · 2025 vintage · deploying · check €1-9M
8 platform investments since the 2025 vintage · mid-deployment vs its usual 11 per fund.
Bought Asia Voyages from NCI, 2026 · Hospitality, France
14. Axio Capital / Siparex Intermezzo 3 SponsorVery High84
11 platform investments in Consumer & Retail · 42 in France · 12 deals 2024–26
AUM €80M · Together (TGT) · 2025 vintage · deploying · check €1-9M
8 platform investments since the 2025 vintage · mid-deployment vs its usual 11 per fund.
Bought Asia Voyages from Adaxtra Capital, 2026 · Consumer, France
15. FrenchFood Capital SponsorVery High84
33 platform investments in Consumer & Retail · 41 in France · 14 deals 2024–26
AUM €450M · FrenchFood Agro Invest · 2023 vintage · deploying · check €2-15M
14 platform investments since the 2023 vintage · largely deployed vs its usual 10 per fund.
Backed EMMA Pâtisserie, 2026 · Consumer, France
16. FrenchFood Capital + Cerea Capital SponsorVery High84
34 platform investments in Consumer & Retail · 41 in France · 14 deals 2024–26
AUM €450M · FrenchFood Agro Invest · 2023 vintage · deploying · check €2-15M
14 platform investments since the 2023 vintage · largely deployed vs its usual 10 per fund.
Backed EMMA Pâtisserie, 2026 · Consumer, France
17. FrenchFood Capital, Socadif SponsorVery High84
33 platform investments in Consumer & Retail · 41 in France · 14 deals 2024–26
AUM €450M · FrenchFood Agro Invest · 2023 vintage · deploying · check €2-15M
14 platform investments since the 2023 vintage · largely deployed vs its usual 10 per fund.
Backed EMMA Pâtisserie, 2026 · Consumer, France
18. Indigo Capital SponsorVery High83
26 platform investments in Consumer & Retail · 63 in France · 10 deals 2024–26
AUM €800M · Indigo Capital III · 2024 vintage · deploying · check €5-38M
10 platform investments since the 2024 vintage · early in deployment vs its usual 25 per fund.
Backed Emosia Group, 2026 · Consumer, France
19. Cerea Partners SponsorVery High83
17 platform investments in Consumer & Retail · 49 in France · 15 deals 2024–26
AUM €1.5B · Cerea Agro Dev Industrie · 2025 vintage · deploying · check €5-38M
8 platform investments since the 2025 vintage · largely deployed vs its usual 8 per fund.
Backed Cerise et Potiron, 2023 · FoodTech, France
20. Riello Investimenti SGR SponsorVery High83
10 platform investments in Consumer & Retail · 8 deals 2024–26
AUM €250M · Buy&Build Opportunities - Private Equity IV · 2025 vintage · deploying
Accelerating: 7 deals in the last 2 years vs 1.5/yr before.
Backed Foreverland, 2026 · FoodTech, Italy
21. Isai Gestion SponsorVery High81
15 platform investments in Consumer & Retail · 113 in France · 32 deals 2024–26
AUM €458M · ISAI Expansion III · 2025 vintage · deploying · check €6-45M
25 platform investments since the 2025 vintage · largely deployed vs its usual 20 per fund.
Backed home exchange, 2025 · Consumer, France
22. Idia SponsorVery High80
16 platform investments in Consumer & Retail · 126 in France · 27 deals 2024–26
AUM €2.4B · Crédit Agricole Assurances Avenir et Territoires · 2026 vintage · deploying · check €2-15M
5 platform investments since the 2026 vintage · early in deployment vs its usual 25 per fund.
Backed Polenghi Group, 2026 · Consumer, Italy
23. PAI Partners (Fund VIII) SponsorVery High80
43 platform investments in Consumer & Retail · 51 in France · 17 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed Refresco, 2018 · FoodTech, Netherlands
24. PAI Partners (Mid-Market Fund) SponsorVery High80
43 platform investments in Consumer & Retail · 50 in France · 16 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed Refresco, 2018 · FoodTech, Netherlands
25. PAI Partners (Mid-Market) SponsorVery High80
44 platform investments in Consumer & Retail · 51 in France · 16 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed Refresco, 2018 · FoodTech, Netherlands
Scores and facts derive from verified deal records only; sample floors and thresholds are published on the methodology page. Figures marked with a tilde are bands, not disclosures.