Wise Equity Acquires Marullo

On January 8, 2026, Wise Equity acquired Marullo, a manufacturer of pistachio semiprocessed products, for an undisclosed amount. Wise Equity, a Milan-based private equity firm founded in 2000, targets Italian SMEs in manufacturing and services, particularly within the capital goods sector. Marullo, based in Italy, specializes in processing pistachios, hazelnuts, and other nuts, supplying semi-finished ingredients to the food and beverage industry, including gelato production, and finished goods for retail.

This acquisition provides Marullo with enhanced financial backing and strategic guidance from Wise Equity, potentially enabling increased production capacity, expanded market reach, and accelerated product development. Wise Equity's investment aligns with Marullo's growth potential in the specialized nut-based products market. For Wise Equity, the deal diversifies its portfolio within the food processing sector, capitalizing on Marullo's established position and specialized offerings in pistachio, almond, and hazelnut semi-processed products.

The acquisition reflects a broader trend of consolidation within the food processing sector, where private equity firms are actively investing in specialized ingredient manufacturers catering to the growing consumer demand for premium and artisanal food products. Marullo's expertise in nut-based ingredients positions it favorably within this evolving market landscape. The deal underscores the attractiveness of niche food ingredient suppliers to private equity seeking growth opportunities.

The Food Processing sector experienced significant M&A activity, with a projected 150 acquisitions in 2025. Recent deals highlight the ongoing consolidation and diverse strategic motivations within the industry:

• Pritzker Private Capital Acquires NaturPak: Chicago-based Pritzker Private Capital acquired Wisconsin-based NaturPak, a provider of co-manufacturing and packaging solutions, in late December 2025. NaturPak, founded in 2008, represents a relatively young, growth-oriented target for Pritzker, which focuses on acquiring manufacturing products and services companies. The acquisition allows Pritzker to expand its presence in the co-manufacturing and packaging space, capitalizing on the increasing demand for outsourced production solutions.

• Zito Acquires Zvijezda: Croatian company Zito acquired Zvijezda, a Croatian manufacturer of edible oils, margarines, mayonnaise, and ketchup, in early January 2026. Zito, founded in 1999, is a mature player in the agricultural and food sector. This acquisition represents a consolidation within the Croatian food market, leveraging Zito's position in the agricultural sector and Zvijezda's established consumer product lines. The deal strengthens Zito's vertical integration and market share within the Croatian food industry.

• Sheng Yuan Holdings Acquires Kangda Food: Hong Kong-based Sheng Yuan Holdings acquired China-based Kangda Food, a food ingredients processing company. Sheng Yuan Holdings, founded in 1998, is a financial services firm with a focus on asset management, suggesting a strategic investment. Kangda Food, established in 1992, is a more established entity. This acquisition reflects the growing interest of financial services firms in the food processing sector, particularly in emerging markets like China, driven by increasing demand for processed food ingredients.

These deals illustrate several trends: continued consolidation within specific geographic markets (Zito/Zvijezda), private equity firms targeting growth-oriented companies (Pritzker/NaturPak), and financial investors seeking strategic positions in the food ingredients sector (Sheng Yuan/Kangda Food). The overall volume of M&A activity underscores the dynamism and attractiveness of the food processing sector, driven by evolving consumer preferences, technological advancements, and the ongoing consolidation of the global food supply chain.