Adam Foods Acquires Polish Biscuit Manufacturer Dr. Gerard
Adam Foods Biscuit Group, owner of the Cuétara and Artiach brands, among others, completed the acquisition of one of the largest manufacturers of biscuits, wafers and crackers in Central and Eastern Europe, Dr. Gerard.
“The acquisition of Dr. Gerard is an important step in the development of our international activities,” said José Manuel Faría, CEO of Adam Foods’s biscuit business. It will provide us with great opportunities for growth and innovation, and above all will help everyone to produce better and better biscuits based on innovative, tasty recipes adapted to market trends.”
“The change of ownership is a great opportunity for our company because we are joining the group with strong foundations and a long tradition in Europe, while maintaining the flexibility, dynamism and passion for quality that characterize both Dr. Gerard and Adam Foods. Synergies are also possible due to the diversity of the biscuit portfolio, which both companies have to offer,” said Jarosław Zawadzki, CEO of Dr. Gerard. On 15 September this year, the relevant consent to the acquisition was issued by the President of the Office of Competition Protection and Consumers. Bridgepoint was advised on the transaction by Houlihan Lokey, while KPMG acted as financial and legal advisor to Adam Foods.
Adam Foods is a Spanish business group specialized in the production and sale of biscuits, pâtés, honey, cakes, broths and bread. It is a leader in Spain and Portugal in biscuits, with brands such as Cuétara, Artiach or Birba, pâtés (La Piara), honey (Granja San Francisco), cakes (Phoskitos), broths (Aneto) and bread (Panrico). It employs more than 1400 people in 10 production plants: 8 in Spain – located in in the Basque Country, Cantabria, Madrid and Catalonia – and 2 in Portugal. Its products are present on international markets in more than 75 countries with a turnover of 350 million euros.
Dr. Gerard is one of the largest producers of biscuits and wafers in Poland and the entire region Central and Eastern Europe. The company’s wide range of products includes more than 200 items, m.in. chocolate-covered wafers, awnings, shortbread, cookies with filling and glazing or gingerbread. The company’s production is located in two plants – in Międzyrzec Podlaski and Radzyń Podlaskie. In addition to domestic sales, Dr. Gerard’s products are exported to nearly 50 Countries. The company has a turnover of 130 million euros, employs 1,100 people and has subsidiaries in Romania and Hungary.