FRANCE: Morina Baie acquisition spells consolidation in biscuit sector
French biscuit maker Morina Baie Biscuits is in exclusive negotiations to acquire Bahlsen Saint-Michel, one of the French subsidiaries of German group Bahlsen. If the acquisition goes through it will mark a significant consolidation of the French biscuit sector.
The deal, which is expected to be completed by the end of the year, would effectively double Morina's turnover to around EUR220m (US$278.49m).
Bahlsen Saint-Michel main brands are Brittany butter biscuits St Michel and Roudor while it also produces sponge cake madeleines under the Commercy name. It employs just over 450 staff.
Morina manufactures Brittany-type biscuits (St Aubert) as well as jam-filled biscuits under the Bonne Maman brand, this through a licensing agreement with Andros. It has two subsidiary companies producing madeleines, Madeira cake and crêpes.
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