Poppies Bakeries has acquired Milcamps, a leading Belgian producer of premium waffles, to enhance its product offerings and strengthen its market position.

Target Information

Poppies Bakeries has successfully secured the acquisition of Milcamps, a reputable Belgian producer of premium waffles, through the advisory services of Spayne Lindsay & Co. Milcamps, established in 1932 and headquartered in Dour, specializes in three distinct types of waffles: galettes, Liège waffles, and Brussels waffles. These products are offered in both ambient and frozen formats, catering to diverse consumer preferences. With a focus on quality, Milcamps has established a presence in 15 countries, predominantly in Belgium and France, and recorded a turnover exceeding 16 million euros in 2024.

This acquisition not only enhances Poppies Bakeries’ product lineup but also reinforces its footing in the competitive waffle market.

Industry Overview

The Belgian bakery industry is renowned for its rich heritage and tradition, offering a vast array of baked goods that are integral to the country's culture. The sector has shown resilience and a