PARIS — Hoping to make its fifth acquisition in the past two years, Biscuit International has reached an agreement to purchase Aviateur, a private label manufacturer of bakery products based in Broek op Langedijk, The Netherlands. Financial terms of the contract were not disclosed.
While the proposed transaction is still subject to antitrust approvals and a works council consultation process, Paris-based Biscuit International noted that the acquisition would benefit both companies, as they could capitalize on complementary product portfolios while increasing their presence in Europe.
Founded in the 1930s as a family-owned operation, Aviateur makes cookies, cakes, pastries and waffles at six bakeries throughout The Netherlands. It conducts 70% of its sales in the country and exports to 35 countries outside of the region. In 2018, the bakery reached $119 million (€105 million) in global sales.
“Aviateur is a very well-established company in The Netherlands and would be an excellent addition to our group,” said Giampaolo Schiratti, chief executive officer, Biscuit International. “The transaction would be a considerable milestone in our pursuit to create an ever more diversified high-quality product portfolio for the benefit of our European customers and their consumers.”
Under the guidance of its owner Qualium Investments, Biscuit International has implemented an aggressive global growth strategy that allowed it to acquire Northumbrian Fine Foods, Stroopwafel & Co. and Arluy in 2018 and A&W Feinbackwaren GmbH in 2017. These purchases helped the company enter key international markets where it generates 70% of its sales.
“The company and its management team have a track record of acquiring and successfully integrating family-owned businesses, allowing them to achieve previously unattainable growth,” said Ronald Komen, co-owner and chief operating officer, Aviateur. “I’m therefore convinced that this transaction would allow Aviateur to enter the next phase of its development for the benefit of its clients and their end-consumers in markets including notably France, U.K. and Italy as well as for our employees.”
Following the transaction’s completion, Aviateur’s management team, which includes Richard Kornet, chief executive officer, Ron Leeuwenkamp, commercial director and Eric Voschezang, finance director, would continue to lead the company and assist Biscuit International during integration.