EUROPE – Platinum Equity has acquired Biscuit International, a leading European manufacturer of private label sweet biscuits, for an undisclosed amount.
Headquartered in Paris, France, Biscuit International was created in 2016 by the merger of Groupe Poult and Banketgroep and grew through the acquisitions of a number of companies across Europe.
Over the past the past three years, the biscuits maker acquired A&W Feinbackwaren in Germany, Northumbrian Fine Foods in the UK, Stroopwafel & Co and Aviateur in the Netherlands, and Arluy in Spain.
The company markets a wide range of products including traditional biscuits and a growing portfolio of products for consumers with specific dietary requirements across Europe.
Biscuit International currently employs approximately 1,900 people and generated sales in excess of €500m during the last 12 months, of which approximately two-thirds came from outside France.
Commenting on the acquisition, Platinum Equity Partner, Louis Samson said: “Biscuit International has an exceptional portfolio and a well-deserved reputation for high-quality products.
“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 optimize the platform and maximize operational performance throughout the business.”
Under Platinum Equity, Biscuit international is set to benefit from the exploding global biscuits market which is expected to reach US$164 billion by 2024, at a CAGR of 5.08% – according to a Research and Market report.
Platinum Equity’s acquisition of Biscuit International is the company’s latest buyout in the food and beverage industry and in the European market.
In January, the private equity firm announced a definitive agreement to acquire Italy-based wine producer Farnese Vini.
Headquartered in Pescara, Italy Farnese markets and distributes wines from southern and central Italy. The company acquires grapes from local farmers, oversees production and markets wines under specialty labels to customers internationally.
Last year the firm acquired Pontevedra, a Spain-based seafood provider Iberconsa adding to the previous acquisition of Zug, Switzerland and Chesterbrook, PA-based blood glucose monitoring company LifeScan from Johnson & Johnson for US$2.1 billion.