Houlihan Lokey Advises Berief Food

Houlihan Lokey is pleased to announce that Berief Food, one of Germany’s most successful independent specialists for plant-based food products, is intended to be fully acquired by Unternehmensgruppe Theo Müller (UTM). The transaction is subject to merger control clearance.

Founded in 1985 and headquartered in Beckum, Berief Food is one of the pioneering players in the European market for plant-based food products. Having evolved from one of Europe’s first tofu manufacturers into a strategic player of scale, the family-owned company today offers a broad range of certified organic plant-based drinks, tofu products, and yoghurts across both its own brand and private label. Post-closing, Berief is intended to operate as a largely independent business unit.

The sale follows a structured process during which Berief evaluated a range of options to finance its continued growth. Strongly growing consumer demand for plant-based products created an increased need for capital to expand into new European markets, particularly Eastern Europe and the Benelux. After evaluating several strategic options, the combined partnership with UTM was the ideal solution to preserve Berief’s pioneering and successful market presence and continue to grow internationally. “I am placing the company and its employees in safe hands. Unternehmensgruppe Theo Müller offers the best possible foundation for a successful future. This partnership not only enables further growth but also secures the long-term stability and development of our Beckum site,” says Marcus Berief, former owner of Berief Food.

UTM is one of the leading dairy groups in Europe, with more than €10 billion in revenue in 2025 and c. 34,300 employees, operating strong independent brands, including Müller and Landliebe across Continental Europe and the United Kingdom. “With Berief, we are gaining an experienced team and strong expertise in plant-based foods, an important strategic step to complement our activities in this future-oriented market,” says Stefan Müller, Chairman of UTM.

Houlihan Lokey acted as the exclusive financial advisor to Berief Food and its shareholder, leading process management, negotiations, and transaction execution. This transaction further demonstrates the firm’s leading position in the food and beverage space globally and in the plant-based sector in particular.

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