Los Angeles-based investment firm Platinum Equity has entered into exclusive negotiations with Qualium Investissement to acquire Biscuit International, a European manufacturer of private label sweet biscuits.
Headquartered in Paris, Biscuit International employs approximately 1,900 people and generated sales in excess of €500 million during the last 12 months, of which approximately two-thirds came outside France.
The company was created in 2016 by the merger Groupe Poult and Banketgroep and grew through the acquisitions of A&W Feinbackwaren in Germany, Northumbrian Fine Foods in the UK, Stroopwafel & Co and Aviateur in the Netherlands and Arluy in Spain.
“Biscuit International has an exceptional portfolio and a well-deserved reputation for high-quality products,” said Platinum Equity partner, Louis Samson.
“We support the company’s plan to continue expanding its offering and its international reach, both organically and through additional add-on investments. We look forward to working with the management team to optimise the platform and maximise operational performance throughout the business.”
Biscuit International markets a range of products with a European or local presence, including traditional biscuits and a growing portfolio of products for consumers with specific dietary requirements.
“We are proud to have supported the development stages that have led Biscuit International to become a leader in the European private label biscuit market,” said Jean Eichenlaub, president of private equity company Qualium Investissement.
“We are pleased with the progress made with the group and its teams since our initial investment in March 2014 and we are confident about the opportunities ahead with the support of their new shareholder.”
The proposed transaction is subject to regulatory approval and customary closing conditions.
© FoodBev Media Ltd 2019