Ambienta acquires majority stake in plant-based dairy producer The Bridge to expand in €4.3 billion market

Ambienta has acquired a majority stake in Italian plant-based dairy alternatives producer The Bridge, marking the second investment from its Small Cap Fund as it expands its presence in sustainable food systems.

• Ambienta acquired a majority stake in The Bridge, with the founding Negro Marcigaglia family reinvesting and remaining involved in the business.
• The Bridge operated internationally, generating around 80% of its sales outside Italy across branded and private-label plant-based dairy products.
• The company produced plant-based drinks and yogurts in a €4.3 billion European market, with products offering lower water, land and emissions impact than dairy.

The deal saw Ambienta, an asset manager focused on environmental sustainability, take a controlling position in the Vicenza-based company while maintaining continuity in leadership. The Negro Marcigaglia family reinvested alongside the firm and continued to play a role in the company’s development.

Founded in 1994 and headquartered in San Pietro Mussolino, The Bridge has built a long-standing presence in plant-based dairy alternatives, producing a range of drinks, yogurts and related products. The company operated a fully integrated manufacturing model, managing processes from raw material extraction through to UHT treatment and final packaging.

This vertically integrated structure has enabled The Bridge to serve both its own branded portfolio and private-label customers across international markets. Around 80% of its revenues were generated outside Italy, reflecting a strong export footprint.

Francesco Lodrini, Partner at Ambienta, said the investment aligned with the firm’s focus on sustainable food systems and growth driven by environmental trends.

“We are proud to announce our investment in The Bridge. Food production is one of the most critical areas in the transition to a more sustainable economy, and plant based alternatives play a key role in reducing the environmental footprint of the agrifood value chain. This second investment for Ambienta Small Cap in just a few weeks, embodies what this strategy stands for: deploying our capabilities and network to support companies also on the smaller end of our investment range to seize growth opportunities in markets driven by environmental trends.”

The European plant-based dairy alternatives market was estimated at more than €4.3 billion (US$4.7 billion), supported by continued consumer interest in products associated with health and sustainability. The sector has seen sustained growth over the past decade, driven by changing dietary habits and increased awareness of environmental impact.

Within this context, The Bridge has developed its product range around clean-label formulations and ingredient quality, aiming to differentiate itself in a market that remains relatively fragmented despite its growth.

Ambienta highlighted the environmental case for plant-based dairy alternatives, noting that conventional dairy production carries a significantly higher footprint. Compared with dairy milk, plant-based alternatives can generate around three times fewer emissions, require up to 13 times less water, and use approximately 10 times less land, depending on the product and production system.

The company also indicated that, on a per-litre basis, The Bridge’s products could save up to 500 liters of water compared with traditional dairy.

The broader agrifood sector accounted for approximately 30% of global greenhouse gas emissions, with around 60% of those emissions linked to animal-based food production, including livestock, feed crops and associated land use.

Paolo Negro Marcigaglia, shareholder of The Bridge, said the partnership would support the company’s next phase of growth.

Over the years, we have built a company rooted in quality, innovation and respect for the environment, in Ambienta we found a like minded partner to support and accelerate our expansion, strengthen our organisation and continue investing in innovation to capture the significant opportunities ahead in the plant based sector.

Ambienta reported that it has been tracking developments in plant-based food since 2017, identifying the category as one of the areas where substitution effects can deliver tangible environmental benefits.

The investment is expected to support The Bridge’s next phase of growth, with a focus on both organic expansion and targeted acquisitions. Ambienta stated that it would work alongside the company’s existing leadership to scale operations and strengthen its position in international markets.

The deal also reflected a broader trend of private equity firms targeting established players in the plant-based sector, particularly those with integrated manufacturing capabilities and international reach.

Ambienta reported that it would bring experience in working with family-owned businesses to help accelerate growth, while maintaining the operational foundations already in place.

The transaction marked the second investment under Ambienta’s Small Cap Fund, signaling continued deployment of capital into sustainability-linked food and ingredient businesses across Europe.