Haynes Boone represented Millbio, a leading global developer of natural functional ingredients for the food industry, in its cross-border acquisition of U.S.-based Cain Foods. The transaction, backed by pan-European private equity investor Apheon, forms a global champion in clean-label bakery solutions with vertically integrated operations across the Americas, Europe and Asia.
Founded in 1991 in Italy, Millbio produces natural mold inhibitors, sourdough, enzyme-based improvers and botanical extracts. Cain Foods, based in Dallas, Texas, has been a trusted provider of custom mixes and natural preservation systems to the industrial baking sector since 1971.
The Haynes Boone deal team was led by Partner Larry Shosid, with support from Associates Hannah Shoss and Dustin Leenhouts.
“This was an exciting opportunity to help Millbio expand its footprint and capabilities through a complex, cross-border deal,” Shosid said. “We are proud to support Millbio as it continues to scale globally and lead in clean-label innovation.”
The combined entity will leverage Millbio’s fermentation expertise and global R&D footprint alongside Cain Foods’ manufacturing strength and market presence in the Americas. The transaction positions the new entity to meet increasing global demand for clean-label baking ingredients and deliver innovation, scalability and client-centric solutions to industrial bakeries worldwide.
Haynes Boone’s M&A Practice Group has comprehensive experience handling middle-market deals, having helped clients close more than 500 transactions in the last five years, with an aggregate value exceeding $50 billion. The firm routinely represents private equity firms, closely held corporations, founders, large financial institutions and Fortune 500 public companies.
