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A Ferrero-related company today announced that it has entered into exclusive negotiations to fully acquire Michel et Augustin from Danone. Michel et Augustin was founded in the French market in 2004 by Augustin Paluel-Marmont and Michel de Rovira, it markets premium, products including sweet biscuits, savoury biscuits and snacks. These brands are sold mainly in France and in six other markets. Danone acquired the business after holding a minority share in 2016. The proposed transaction will be submitted to the relevant employee representative bodies for consultation and is expected to close in the coming months, subject to customary closing conditions. The planned acquisition would improve Ferrero’s position in France and mark the latest purchase in the premium biscuits market, following the acquisitions of Burton's Biscuit Company and Fox's in the UK, Kelsen Group in Denmark and Delacre in Belgium.