Platinum Equity, a Los Angeles-based investment firm, has acquired Biscuit International, a European private label sweet biscuits manufacturer, from Qualium Investissement for an undisclosed price.
Based in Paris, Biscuit International has a workforce of around 1,900 people. The sweet biscuits producer had registered sales of more than €500 million during the last 12 months, of which nearly two-thirds came from outside France.
The sweet biscuits manufacturer markets a variety of products with a European or local presence. Included in these are traditional biscuits and a growing portfolio of products for consumers with specific dietary requirements such as organic, low-calorie, milk-free, sugar-free, gluten-free, and other categories.
Commenting on Platinum Equity acquisition of Biscuit International, Louis Samson – Platinum Equity Partner, 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.”
Biscuit International was established in 2016 through the merger of Groupe Poult and Banketgroep. The French sweet biscuits manufacturer is said to have expanded via the acquisitions of Germany-based A&W Feinbackwaren, UK-based Northumbrian Fine Foods, Stroopwafel and Aviateur in the Netherlands, and Spain-based Arluy.
Platinum Equity’s financial advisor for the acquisition of Biscuit International was Rothschild & Co, while its legal advisor was Latham & Watkins.
Platinum Equity said that the acquisition of Biscuit International is an example of its growing momentum in Europe and its ability to undertake large and also small cap transactions.
In January, the global investment firm signed a deal to acquire Italian wine producer Farnese Vini. In 2019, Platinum Equity acquired Genoa, Italian global marine contractor De Wave Group and Spanish seafood provider Iberconsa.