Platinum Equity, a global investment firm based in Los Angeles, announced that it has entered into exclusive negotiations with Qualium Investissement to acquire Biscuit International, a leading European manufacturer of private label sweet biscuits.
Headquartered in Paris, Biscuit International employs approximately 1,900 people and generated sales in excess of EUR500m during the last 12 months, of which approximately two-thirds came from outside France. The company markets a wide range of products with a European or local presence, including traditional biscuits and a growing portfolio of products for consumers with specific dietary requirements (organic, low-calorie, sugar-free, gluten-free, milk-free and other categories).
“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,” said Platinum Equity Partner Louis Samson.
Biscuit International was created in 2016 by the merger of Groupe Poult and Banketgroep and grew through the acquisitions of A&W Feinbackwaren in Germany, Northumbrian Fine Foods in the UK, Stroopwafel & Co and Aviateur in the Netherlands, and Arluy in Spain.
“We are proud to have supported the development stages that have led Biscuit International to become a leader in the European private label biscuit market. We are pleased with the progress made with the group and its teams since our initial investment in March 2014 and we are confident about the opportunities ahead with the support of their new shareholder,” said Jean Eichenlaub, president of Qualium Investissement.