Four specialized companies in the Flemish media and entertainment sector – Media Partners, Flanders Tax Shelter, Brightside Productions and Famework – have merged to form a new group, Brightside Media Group.

C for Growth has acquired a majority stake in Damhert Nutrition, a Belgian producer of organic, sugar-free and vegetarian foods.

Philipp Remy has been promoted to Managing Partner at Fortino Capital, marking a further step in the growth of the European venture and private equity firm’s presence in the DACH region.

Ghent-based HR tech company Talentguide has secured 1.3 million euros in growth capital to support its expansion into the Dutch market and scale its AI-driven skills platform.

Belgian water solutions provider Ekopak has acquired the New Water Business Tilburg (NWB) industrial wastewater treatment facility in Tilburg, marking a step forward in its strategy to strengthen sustainable and circular water management in the Netherlands.

Building Technology Group, a fast-growing provider of integrated building installation services in Belgium, has acquired Vrints, an HVAC and plumbing installer based in Brecht.

Belgian-founded AI startup pleasefix.ai has secured 2.1 million euros in a pre-seed funding round led by Pitchdrive, with participation from Syndicate One, Entrepreneurs First, Transpose and 100IN, alongside several finance industry investors.

Belgian sports tech company Runeasi has secured 1 million euros in growth funding to expand its AI-driven movement analysis platform.

Belgian regtech provider RiskConcile has acquired Substance over Form (SOF), a London-based specialist in regulatory reporting solutions for investors in private and alternative markets.

High-tech consultancy firm TMC has acquired Sioux Technologies NV, the Belgian subsidiary of high-tech solutions provider Sioux Technologies, headquartered in Eindhoven.

Belgian supermarket chain Delhaize has completed the acquisition of Delfood, including all louis delhaize-branded stores, affiliated partner shops, logistics operations, and the company’s Belgian headquarters.

Delaware Belux has acquired ML2Grow, a Belgian specialist in artificial intelligence and machine learning, further reinforcing its position in the fast-growing Belgian AI market.

Eurocircuits, a European specialist in printed circuit board (PCB) and printed circuit board assembly (PCBA) prototyping and low-volume production, has entered into a strategic partnership with Avedon Capital Partners.

Beaulieu International Group (B.I.G.) has signed an agreement to acquire 100 percent of the shares in IFG Asota GMBH, an Austria-based fibre specialist and a recognised player in the global market for synthetic staple fibres.

Altix strengthens investor support with strategic appointments in the Netherlands and Belgium.

The Belgian Competition Authority (BCA) has approved Delhaize’s acquisition of Delfood, owner of the Louis Delhaize retail chain, subject to a number of conditions aimed at safeguarding competition.

PIA Group, the international accountancy, advisory and audit group headquartered in Ghent, has started the year with five new acquisitions, further strengthening its footprint in Belgium and beyond. One of the newly added firms is DSM Consulting, based in Lier.

Belgian investment company Gimv has announced a strategic refocus on its core investment platforms, discontinuing new investments in Life Sciences while strengthening its emphasis on Anchor, Consumer, Healthcare, Smart Industries and Sustainable Cities.

Baker Tilly Belgium and Baker Tilly Netherlands are joining forces to form a single regional platform, creating a leading accountancy, audit and advisory group across Belgium and the Netherlands.

German medtech startup Altavo GmbH has closed a 3 million euros Series A2 financing round to accelerate the development of its Artificial Voice technology, aimed at restoring natural-sounding speech for people who have lost their voice.

The Dutch competition authority Autoriteit Consument en Markt (ACM) has once again urged lawmakers to give it greater powers to intervene in smaller mergers and acquisitions, warning that growing market concentration is undermining competition in the Netherlands.

Belgian managed ICT provider VanRoey has acquired The Collective, a Microsoft-focused cybersecurity specialist based in Zele. The transaction strengthens VanRoey’s security portfolio and gives the company its first permanent foothold in East Flanders.

Puratos has acquired Vör Foods, a fast-growing producer of clean-label nut pastes and nut-based fillings based in Trevose, Pennsylvania, as the Belgian group strengthens its manufacturing footprint and innovation capabilities in the United States.

Straco Private Equity has completed the sale of Agaris Horti to Evergreen Garden Care, the companies announced.

Brantsandpatents has strengthened its Benelux intellectual property platform with the acquisition of Merk-Echt, a leading trademark practice in the region.

The Belgian Competition Authority (BMA) has granted conditional approval for the takeover of Cofinimmo by Aedifica, the regulator announced on 21 January 2026.

International equipment distributor BIA Group has announced the acquisition of BPM Construction, a leading French distributor serving the construction and extractive industries.

Belgian IT consultancy Dynapps, based in Geel, has acquired Spanish IT company Indaws, a specialist in Odoo ERP implementations.

European pallet specialist PGS Group has expanded its European footprint into Italy through the acquisition of Beretta Pallets, a long-established family-owned company based in Mapello, near Bergamo in the Lombardy region.

Kolsquare, the influencer marketing brand of team.blue, has acquired Storyclash, a leading influencer marketing technology in the DACH region.

team.blue has made a strategic investment in Windsor.ai, strengthening its SaaS portfolio and reinforcing its focus on AI-driven tools for European small and medium-sized businesses.

European investment firm Gimv, together with EQT Life Sciences as co-lead investor, has led a 51 million euros Series B financing round for Exciva GmbH, a neuropsychiatric drug developer based in Heidelberg.

Hermans Heftrucks has announced the acquisition of Allift Michielsens, a move that strengthens its presence in the Port of Antwerp and broadens its offering in lifting and material handling solutions.

Belgian IT services provider On IT has announced the acquisition of Colibri Consulting, a Leuven-based specialist in security, identity management and network solutions for complex IT environments.

Investment firm Gimv has agreed to sell its majority stake in ALT Technologies to CCL Industries, the world’s largest label producer. The transaction is subject to customary closing conditions, including regulatory approvals.

Belgian IT services provider On IT has acquired XDnet, a well-established IT partner based in Diest.

Belgian bookseller Standaard Boekhandel has acquired Standaard Uitgeverij, the country’s leading comics publisher, reuniting two companies whose histories have been intertwined for more than a century.

Belgian bicycle leasing specialist Cyclis Bike Lease is expanding its operations with the acquisition of the entire bike leasing portfolio of VDW Lease, based in Aartselaar.

European cybersecurity scale-up Aikido has raised 60 million dollars in a Series B funding round, reaching a valuation of 1 billion dollars and securing its place among the continent’s fastest-growing tech unicorns.

The Dutch MSP platform Your.Cloud has completed its first acquisition in Belgium, taking over IPSys Solutions, a Belgian provider of telecom and IT services.

Ghent-based Corilus, the Belgian market leader in software for primary healthcare providers, has acquired its French counterpart Sofia Développement.

Brussels AI company Superlinear has raised 6 million euros in a Series A funding round to accelerate the development of its AI Operating System, Holon.

German mobility group Flix, the parent company of FlixBus, has agreed to acquire a majority stake in Luxembourg-based airport shuttle operator Flibco.

Belgian-Dutch media group DPG Media has acquired Mood for Magazines from Talpa Network. Mood for Magazines publishes the lifestyle titles LINDA. and LINDA.meiden.

Belgian food logistics specialist Sitra Group has acquired German peer Marlep Tanklogistik, marking another step in its ambition to become Europe’s leading food transporter.

Apheon has reached the 1.25 billion euros hard cap for its sixth flagship fund, Apheon MidCap Buyout VI (AMB VI), following strong investor demand.

Belgian ICT group VanRoey has acquired Sonical, strengthening its position as an established managed ICT services provider.

Belgian software studio Panenco has acquired Inect, an AI specialist based in Haasrode. The transaction strengthens Panenco’s positioning as an AI-driven software partner for scale-ups and corporates, while expanding its team to around 40 specialists.

Belgian communications agency Capone has acquired sector peer Revista, marking a new growth step for the Kortrijk-based firm.

After a cautious few years, global M&A is heading into 2026 with renewed confidence.

Dentons has appointed Cedric Degreef as Partner and Head of its Energy group in Belgium. He will be based in Brussels and lead the further development of the firm’s energy practice in the Belgian market.

These are the top 5 risks for the world economy that threaten to negatively impact the M&A-market this year.

Strukton Rail N.V. has acquired E. de Vuyst N.V., a Zottegem-based rail works specialist, further strengthening its position in the Belgian rail infrastructure market.

Telenet Group NV has completed the sale of its entire shareholding in Caviar Group, marking a further sharpening of its strategic focus on the Flemish media ecosystem and digital innovation.

KBC Securities and Van Lanschot Kempen Investment Banking have announced plans to merge their equities activities into a 50/50 joint venture, creating what they describe as a leading Benelux equities broker with pan-European specialisation in real estate and life sciences.

Anheuser-Busch InBev has announced that it has exercised its contractual right to reacquire the 49.9 percent minority stake in its US-based metal container plant operations from a consortium of institutional investors led and/or advised by affiliates of Apollo Global Management.

PIA Group has appointed Tom Verhaegen as its new Group CEO, marking an important milestone in the group’s evolution from a Benelux success story into a broader European platform.

team.blue has acquired Macaly, an AI-powered “vibe coding” platform that enables users to create full web applications by describing what they want in natural language.

The global market for mergers and acquisitions reached 4.5 trillion dollars (4,500 billion) in 2025, the highest level since 2021 and almost 50 percent more than a year earlier.

European cyber security group Integrity360 has expanded its presence in continental Europe through the acquisition of Cresco, a fast-growing cyber security services firm headquartered in Brussels.

While the Dutch optical market is already heavily consolidated, Belgium – where around 75 percent of stores remain independent – is clearly moving in the same direction.

Pharmaceutical compounding group Fagron has completed two strategic acquisitions and announced the receipt of a new licence in North America.

Belgian family-owned company Warsco has acquired German container specialist Bloedorn, marking a strategic expansion into the German market.

Mark Reid, CFO of the Proximus Group, will leave the Belgian telecom operator at the end of January 2026 to pursue new career opportunities in the UK, the company announced.

Fortino Capital has completed the final closing of its third private equity fund, Fortino PE III, at 700 million euros, exceeding its initial 600 million euros target.

Belgian insurance broker Callant has acquired 3 additional brokerage firms – Natel (Denderleeuw), Toulouse & d’Udekem (Ieper) and Findin (Landen and Tienen) – further accelerating its buy-and-build strategy backed by private equity investor Creafund.

European private equity firm Apheon has agreed to acquire a majority stake in Rubio Monocoat, a Belgian producer of sustainable wood protection solutions, marking the exit of investment firm Bencis from the business.

Belgian digital identity platform Itsme has acquired iDIN, a Dutch digital identification and login service, in a cross-border transaction between two bank-backed fintech initiatives.

Investment cooperative Horticoop has acquired a stake in Belgian company Anorel, a producer of water-soluble fertilisers for horticulture and agriculture.

FrieslandCampina has received final approval to proceed with its long-anticipated merger with Belgian dairy cooperative Milcobel, effectively resulting in the acquisition of Milcobel by the Dutch group.

Nyrstar has announced a proposed sale of its U.S. operations to South Korea’s Korea Zinc, a deal that would transfer ownership of the East Tennessee and Mid Tennessee mining complexes and the Clarksville zinc smelter.

Belgian healthtech startup Mindoo has raised 5 million euros in seed funding to scale its platform of AI agents designed to support healthcare teams with patient intake, documentation and follow-up.

EyeCare Group has strengthened its presence in Belgium through the acquisition of three OPTIL optical stores in Brussels, marking its first entry into the capital. With this transaction, the fast-growing optical and hearing care group increases its Belgian network to 19 locations.

Belgian tech scale-up Trendtracker has secured 7 million dollars in Series A funding to accelerate the global rollout of its AI-powered strategic intelligence platform.

Qargo, the AI-powered transport management platform transforming Europe’s logistics sector, has raised 33 million euros in Series B funding as rapid adoption propels the company into new markets.

According to PitchBook’s 2026 EMEA Private Capital Outlook, Europe’s corporate landscape is entering a new phase: by the end of 2026, the number of PE-backed companies is expected to reach 2.3 times the number of publicly listed firms—an all-time high.

Qatar Sports Investments (QSI), the owner of Paris Saint-Germain, has acquired Belgian second-division side AS Eupen, marking the end of a 13-year tenure under the Aspire Zone Foundation.

Antwerp-based maritime tech start-up Dockflow has secured 1.4 million euros in funding to evolve its logistics data platform from real-time container tracking into full predictive AI.

Craftzing expands capabilities with acquisition of AI studio Sagacify and service design pioneer Namahn.

KBC Group is investing 100 million euros in the Belgian start-up ecosystem through Start it @KBC, its long-running accelerator program.

Belgian insurance group Ageas has agreed to acquire the remaining 25 percent stake in its Belgian subsidiary AG Insurance from BNP Paribas Fortis for 1.9 billion euros, becoming the company’s sole shareholder.

The Belgian government intends to sell 20 percent of Belfius Bank’s shares. As a result, Belfius will soon shift from being fully publicly owned to having a partially privatized status.

Maxeda DIY – owner of the Brico and Praxis chains – is preparing to divest 10 company-operated stores across the Benelux region as part of a broader balance-sheet strengthening effort.

6 top deals from 2025 were awarded and 1 dealmaker with the Lifetime Achievement Award.

Belgian renewable-energy company EnergyVision has acquired Turbulent, the Ghent-based developer of micro-hydropower technology.

Swedish SaaS provider Aceve is accelerating its buy-and-build strategy in the Benelux construction and installation software market with the acquisitions of Syntess Group in the Netherlands and KPD in Belgium. The deals mark Aceve’s second Dutch transaction—following its purchase of Brink Software last summer—and its first step into the Belgian market. Aceve was advised by White & Case and Axeco.

Leen Bakker Belgium was declared bankrupt on Wednesday, 3 December, by the court in Antwerp. As a result, the 29 Belgian stores that did not find a new owner will close permanently. The bankruptcy will lead to 250 job losses.

European HR and payroll provider SD Worx has strengthened its presence in Italy by acquiring a majority stake in Labour Consulting S.r.l., a payroll and labour advisory firm based in Reggio Emilia and Parma.

Belgian RegTech provider RiskConcile has strengthened its European platform with the acquisition of B4Finance, a Paris-based specialist in digital investor onboarding and fund-subscription software.

Brussels-based startup AILOS Robotics has raised 3.5 million euros in seed funding to bring its new class of robotic actuation technology to industrial scale.

Beaulieu International Group (B.I.G.) has sold its upholstery division, Tessutica, to GH Private Equity, the company announced on December 1. The transaction was completed on November 27, 2025.

Belgian fintech company POM is expanding its presence in Europe with the acquisition of Danish scale-up FarPay, marking a strategic move into the Scandinavian market.

Belgian infrastructure investor TINC, listed on Euronext Brussels, has announced a 100 million euros joint investment in parking operator Interparking, together with Infravest, the strategic infrastructure partnership between Gimv, WorxInvest and Belfius.

Van Lanschot Kempen publishes first Benelux Family Office Report, revealing a rapidly evolving and increasingly sophisticated sector.

European private equity investor Gimv has entered into a definitive agreement to acquire a minority stake in Equine Care Group (ECG), joining existing shareholder CNP, which remains the company’s lead strategic partner.

Innocens, a Belgian biotech spin-off from the University of Antwerp, has secured 1.5 million euros in funding to accelerate the commercial rollout of its AI-driven monitoring system for neonatal intensive care.

Only 15 of Leen Bakker’s 44 Belgian stores have found buyers, leaving the remaining locations likely heading for bankruptcy and signaling the end of the furniture chain’s presence in Belgium.

Belgium’s food and beverage (F&B) sector is experiencing a solid revival in M&A activity, according to Deloitte’s latest Belgian Future of Food M&A Snapshot.

Belgian data intelligence group Datasharp has acquired Woosmap, a leading French location-intelligence platform.

Belgian IT services provider Amista has acquired the Dutch activities of Hoofddorp-based technology company Aarini.