PARIS — Platinum Equity, a Los Angeles-based investment firm, has started negotiations with Qualium Investissement to acquire Biscuit International, a private label bakery headquartered in Paris. Financial terms of the transaction were not disclosed.
Biscuit International produces a wide range of cookies, waffles and cakes that are sold throughout Europe. Since its 2016 inception, the bakery has increased its presence in the region through a slew of acquisitions, which include A&W Feinbackwaren in Germany, Northumbrian Fine Foods in the U.K., Stroopwafel & Co and Aviateur in the Netherlands and Arluy in Spain.
Biscuit International has reached more than $550 million (€500 million) in sales in the last 12 months, with approximately two-thirds coming from markets outside of France, according to Platinum Equity.
“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,” said Jean Eichenlaub, president of Qualium Investissement. “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.”
Louis Samson, partner, Platinum Equity, said the investment firm will support Biscuit International’s global growth through additional add-on investments.
“Biscuit International has an exceptional portfolio and a well-deserved reputation for high-quality products,” he noted. “We look forward to working with the management team to optimize the platform and maximize operational performance throughout the business.”
The acquisition is subject to works council consultation, regulatory approval and customary closing conditions.