NETHERLANDS – Biscuit International is seeking to reinforce its position in the European private label biscuit and bread substitute market through the acquisition of Continental Bakeries from its majority shareholder, Goldman Sachs Asset Management.
The two companies share numerous synergies, both being leading European manufacturers of private label goods like biscuits, bread replacements and toast.
“The proposed acquisition of Continental Bakeries is a game changer for Biscuit International,” said Giampaolo Schiratti, chief executive officer of Biscuit International.
“Continental Bakeries is a very well-established company in Europe, and its addition to our group will be transformational, leveraging on a strong strategic fit in terms of product and geographic complementarity.”
Continental Bakeries is based in the Netherlands and focuses on private label and own brands such as Haust, Gille, Grabower, Bussink, Brinky, and Continental Bakeries.
The company has a 2,300-strong workforce operating 13 production facilities in the Netherlands, Belgium, Germany, Poland, and Sweden.
With the proposed acquisition, Biscuit International will not only extend its leadership position in Europe but also enhance its ability to invest in innovation.
The Platinum Equity portfolio company also noted that acquiring Continental Bakeries will also help it to shore up its position in the organic, low-sugar and eco-friendly product categories.
“This is a landmark acquisition for Biscuit International that will further establish its status as one of Europe’s leading private label biscuit manufacturers by capitalising on Continental Bakeries’ strong reputation and established brands in Northern and Eastern Europe,” said Igor Chacartegui, managing director at Platinum Equity.
“The acquisition will also allow Biscuit International to diversify its product portfolio for existing and future customers while continuing to innovate for the development of healthy and eco-friendly products.”
Biscuit International’s recent acquisitions of A&W Feinbackwahren in Germany, Northumbrian Fine Foods in the UK, Stroopwafel & Co in the Netherlands, Arluy in Spain, Aviateur in the Netherlands, and Dan Cake in Portugal has elevated the Group into a serious player in Europe’s private label biscuit sector.
The Continental Bakeries integration will extend the Group’s workforce to over 4,500 people, generating consolidated sales in excess of €900m from an annual production of over 300,000 tons of biscuits, waffles and bread replacement products made in 33 factories across Europe.
The transaction is expected to be completed during the first half of 2022, subject to customary antitrust and works council approvals.
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