A takeover of Paris-based private-label manufacturer Biscuit International by US private-equity fund Platinum Equity has been confirmed for an undisclosed sum.
France’s Qualium Investissement had entered into discussions last November to sell Biscuit International to Los Angeles-based Platinum Equity after a potential deal had been flagged earlier in the year.
Biscuit International, founded in 2016 through the merger of Groupe Poult and Banketgroep, generated sales of EUR500m (US$542m) last year, with around two thirds coming from outside France, according to a statement.
The business had been built up through the acquisitions of A&W Feinbackwaren in Germany, UK-based Northumbrian Fine Foods, Stroopwafel & Co. and Aviateur in the Netherlands, and Arluy in Spain.
Louis Samson, a partner at Platinum Equity, said: “We support the company’s plan to continue expanding its offering and its international reach, both organically and through additional add-on investments. We look forward to working with the management team to optimise the platform and maximise operational performance throughout the business.”
Biscuit International produces “a wide range of products with a European or local presence”, along with organic and low-calorie items, and biscuits that are free-from sugar, gluten and milk. The company employs around 1,900 people.
The deal expands Platinum Equity’s presence in the food space after the investor bought Iberconsa, a Spain-based seafood processor, last year.