France-based investment fund Qualium Investissement has confirmed a deal to take a majority stake in Biscuit Poult, the country’s leading private-label biscuit maker.
It emerged in April that Qualium, which has an asset portfolio that includes fast-food chain Quick, was in exclusive talks with Biscuit Poult owner and private-equity group LBO France.
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Qualium did not disclose the deal’s financial details nor the exact size of its stake but outlined how it would back the business.
Jean Eichenlaub, Qualium’s president, said: “We intend to support the company in its ambitious growth strategy and especially abroad, where the company has already demonstrated its know-how and expertise.”
Biscuit Poult accounts for 40% of own-label biscuit sales in France. It also produces branded products and is the second-largest player in the overall market behind Mondelez International. Last year, it generated sales of EUR190m, of which 20% was made overseas.
Carlos Verkaeren, CEO of Biscuit Poult, said the investment from Qualium would help it implement projects the company had been working on to “accelerate our development”.
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By GlobalDataVerkaeren added: “We will be investing in a new production line to run an innovative product and continue our development in the European market biscuit breakfast, which is a booming market. We will continue to expand internationally.”
