Belgian bakery ingredients group Puratos has begun an agreement to acquire Jackson, Michigan-based Dawn Foods, bringing together two family-owned companies that have each operated in the professional bakery industry for more than a century. The transaction is expected to close by end of 2026, pending regulatory approvals.
Terms were not disclosed. Both companies will continue operating independently until the deal closes, with no changes to day-to-day operations, customer relationships or commercial arrangements.
Complementary businesses
Dawn Foods, founded in 1920, known for its sweet baked goods expertise – donuts, muffins, cookies and brownies – and its application-led innovation model built around seasonal inspiration and customer-ready product concepts. The company partners with more than 50,000 artisanal and retail bakers, foodservice operators and manufacturers across more than 100 countries and employs nearly 4,000 team members globally.
Puratos, founded in 1919 and headquartered in Belgium, brings ingredient technology depth across bakery, patisserie and chocolate, with particular strength in fermentation, sourdough and chocolate craftsmanship. It operates through local subsidiaries in 87 countries and runs technology-driven manufacturing built for more flexible, tailored production.
The combined company would connect Dawn Foods’ large-scale North American distribution with Puratos’ international subsidiary network, and pair Dawn’s application-focused creativity with Puratos’ longer-term R&D-led ingredient science.
Puratos CEO Pierre Tossut framed the deal as a strategic expansion into territory the company already knows well.
“This agreement reflects a major long-term step for Puratos. Dawn Foods is a highly respected company with capabilities that complement our own. The agreement shows our ambition to further expand our footprint and capabilities within a space we know well, understand deeply, and have successfully developed over generations,” Tossut said.
Dawn Foods CEO Carrie Jones-Barber said the shared ownership structure and values alignment made Puratos the right fit.
“Dawn has grown into a global business by staying focused on what matters most – our people, our products, and the customers we serve. As we looked to the future, it was important to find a partner aligned with our values and our long-term view of the business. Like Dawn, Puratos is a family-owned company with a strong heritage and a deep commitment to people, quality, and the baking industry,” Jones-Barber said.
Advisors
J.P. Morgan Securities served as exclusive financial advisor to Puratos, with Allen Overy Shearman Sterling as legal counsel. BMO Capital Markets advised Dawn Foods, with Winston & Strawn as legal counsel. Bank of America, ING Belgium and KBC Bank are serving as joint underwriters for the acquisition financing.