Apheon-backed Millbo completed the acquisition of a majority stake in Cain Food.

Apheon-backed Millbo, a producer of natural ingredients intended for the bakery sector, completed the acquisition of a majority stake in Cain Food, a manufacturer of clean-label ingredients and custom mixes for commercial bakeries. Financial terms were not disclosed. “We are thrilled to join forces with Millbio and Apheon. The alignment across our values, product philosophies, and commitment to technical excellence is strong. Together, we will be able to serve customers more effectively and uniquely position ourselves in the market as a fully integrated global partner for clean-label baking solutions,” Tom McCurry, Cain Food CEO and Shareholder.