Biscuit International Set to Acquire Dan Cake Portugal

The international group based in Paris, Biscuit International, one of the main European groups in the market for the production of industrial pastries of its brand, and the owners of Dan Cake Portugal, a family group, and one of the largest producers of cookies and cakes in Portugal, and leader in the butter biscuit market, announced that the Portuguese company had reached an acquisition agreement with the French group, according to O Jornal Economico. The transaction is subject to compliance with regulatory procedures, namely the approval of the competition authority.

“The acquisition of Dan Cake Portugal represents a significant milestone in the growth strategy of Biscuit International, which includes the organic and external expansion of its portfolio and its geographical presence. This transaction is part of the group’s European acquisitions in the same sector, including Aviateur in the Netherlands (2019), Arluy in Spain (2018), Stroopwafel en Co. in the Netherlands (2018), NFF in the United Kingdom (2018), and A&W in Germany (2017)”, says the French company in a statement.

The Paris-based group ensures that as a leading economic agent in the European private label industrial pastry market, “the acquisition of Dan Cake Portugal will strengthen Biscuit International’s position, solidifying Dan Cake in Portugal and its key markets. Dan Cake Portugal and Biscuit International will benefit from commercial resources and the joint development of their products, allowing the combined group to better meet the increasingly complex needs of its customers,” the statement added.

The management team of Dan Cake Portugal will maintain the leadership with CEO Mitesh Jamnadas and CFO Virgílio Alves, guarantees Biscuit International.

In the statement, Giampaolo Schiratti, CEO of Biscuit International, said that “the acquisition of Dan Cake Portugal is a positive situation for both companies. This operation reflects our goal of expanding a high-quality offer in the industrial pastry sector, providing added value for our customers. Our commitment to investing in the company allows us to increase Dan Cake Portugal’s considerable growth potential in our international markets”, he concludes.

Kantilal Jamnadas, the founder of Dan Cake Portugal, stated that “the acquisition proposed by Biscuit International is an excellent prospect for Dan Cake Portugal, a successful and renowned family company in Portugal”.

Dan Cake Portugal has an annual turnover estimated at EUR55m, “based on a sustainable and successful operation for more than four decades”.