PARIS — Biscuit International, one of Europe’s leading manufacturers in the private label sweet biscuit market, has acquired Northumbrian Fine Foods (N.F.F.) from CriSeren Foods Ltd. Financial terms of the transaction were not disclosed.
Gateshead, U.K.-based N.F.F. is the largest gluten-free and milk-free sweet biscuit maker in the U.K., generating annual revenues of approximately £27 million in 2017. N.F.F. makes biscuits under the Prewett’s brand and also supplies the private label market.
Biscuit International said the acquisition of N.F.F. will allow the company to expand its product offerings and geographical footprint.
“The European free-from market is very dynamic and represents a real opportunity for growth,” said Giampaolo Schiratti, chief executive officer of Biscuit International. “N.F.F.’s expertise in gluten- and milk-free biscuit production was a major attraction to us and the business provides an excellent fit into our portfolio of companies. We aim to further develop the business through innovation and creating exciting new products for the U.K. and European markets, and we anticipate this acquisition will lead our group to become Europe’s largest producer of gluten- and milk-free sweet private label biscuits and strengthening the partnership with our customers, whether they are retailers or industrials. This ambitious move will contribute to offer an ever more diversified and qualitative product portfolio to our European customers and their consumers.”
Following the merger between Groupe Poult and Banketgroep in 2016 and the recent acquisition of A&W Feinbackwaren in Germany, Biscuit International has grown to become one of Europe’s leading private label biscuit players. The company produces 100,000 tons of biscuits and waffles from 12 factories in Europe. Biscuit International generated sales of €300 million in 2017, half of which were outside France, and employs 1,300 people. Biscuit International is owned by Qualium Investissement, a player in the French private equity market with approximately €1.2 billion of assets under management, and a limited number of French and international institutional investors together with the company’s management team.
Stewart McLelland, managing director at N.F.F., said the acquisition by Biscuit International will give N.F.F. the platform to expand into Europe, where the company sees significant opportunities for developing the gluten-free biscuit sector.
“Biscuit International is a forward-thinking business and its plans for N.F.F. will further enhance our position as the U.K.’s No. 1 gluten- and milk-free biscuit manufacturer,” Mr. McLelland said. “We are very proud of our achievements here at N.F.F. and through the hard work of all our staff we have created a sustainable and secure business with a great future.”