French private-label biscuits specialist Biscuits Bouvard has announced it "has taken another step in its international development" with the acquisition of a majority stake in Italian firm, Euro Cakes from founder Livio Battistin.
The value of the transaction was not disclosed.
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Euro Cakes' main product offering is individual sponge cakes. With an annual turnover of EUR56m, it operates from two production sites and employs 280 staff.
Based in Ceyzériat, in Southern France, Bouvard said the acquisition "would extend its product range from sugar biscuits to industrial pattiserie" and "accelerate its development in the Italian market".
With the integration of Euro Cakes, Bouvard's turnover will rise to EUR260m, with non-French sales representing 32% of the total. Its workforce will increase to 1,400.
Bouvard said it had been supported in the purchase of Euro Cakes by its financial partners, Siparex, Unigrains et Carvest.
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