PARIS — Global investment firm Platinum Equity has announced that one of its portfolio companies, Biscuit International, has reached agreement to acquire Continental Bakeries from its majority shareholders, Goldman Sachs Asset Management.

Headquartered in Dordrecht, The Netherlands, Continental Bakeries is a European manufacturer of private label sweet biscuits, bread replacements and toast. The company has 13 production facilities in The Netherlands, Belgium, Germany, Poland and Sweden, and employs more than 2,300 people. Goldman Sachs has supported Continental Bakeries’ growth since 2016.

Already one of Europe’s major bakers of private label biscuits, Biscuit International said the acquisition and integration of Continental Bakeries’ operations represents a “transformational and strategic transaction for the group,” allowing Biscuit International to increase its presence in major European markets significantly through a highly complementary product portfolio and geographical footprint, for the benefit of clients and final consumers. Specifically, Biscuits International said it expects the acquisition to put it in an even stronger position to continue to invest in innovation and to remain at the forefront of organic, low-sugar and eco-friendly products.

“The proposed acquisition of Continental Bakeries is a game changer for Biscuit International,” said Giampaolo Schiratti, chief executive officer of Biscuit International. “Continental Bakeries is a very well-established company in Europe, and its addition to our group will be transformational, leveraging on a strong strategic fit in terms of product and geographic complementarity. The transaction will be a considerable milestone in our pursuit to create the European leader of private label biscuits, for the benefit of our European customers and their consumers. We look forward to unlocking further synergies and market opportunities to reveal the full potential of this combination. I would also like to take this opportunity to thank Platinum Equity for their commitment and financial support throughout this transaction.”

Louis Samson, the partner at Platinum Equity who oversees the firm’s European operations, said, “We are pleased to continue putting our M&A and operational resources to work in support of Biscuit International’s growth and expansion. As a firm, Platinum has a lot of momentum in Europe, and we continue delivering on our commitment to invest in the region and maximize the potential of our European portfolio companies. This transformational add-on of Continental Bakeries is another good example.”

Pierluigi Tosato, CEO of Continental Bakeries, added that the combination with Biscuit International will enable it to broaden its product portfolio, deepen its international presence across Europe and enhance its customer offering.

“We look forward to entering a new phase in our development as an organization and working together with the Biscuit International team to plan for, and following closing, ensure a successful integration,” Mr. Tosato said.

Since its 2016 inception, Biscuit International has increased its presence in Europe through a slew of acquisitions, which include A&W Feinbackwaren in Germany, Northumbrian Fine Foods in the UK, Stroopwafel & Co and Aviateur in The Netherlands, Arluy in Spain, and, earlier this year, Dan Cake Portugal in Portugal. Biscuit International was acquired in February 2020 by Platinum Equity, a Los Angeles-based investment firm, from Qualium Investissement.