Spain’s Family Biscuits has struck a deal to buy local peer Natural Biscuits to increase manufacturing capacity and support product development.
The deal for the “defunct” Natural Biscuits was announced in a brief statement issued by Family Biscuits. Financial terms were not disclosed.
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The group told Just Food the transaction covered Natural Biscuits’ physical assets, including machinery.
Natural Biscuits entered into bankruptcy proceedings in 2020 biscuit maker and Family Biscuits said the deal has “resolved its bankruptcy situation”.
“The book value of the assets was around €2m ($2.2m),” the company added. The assets will be transferred to the Family Biscuits plant in Jaén this month.
Family Biscuits, set up by former Galletas Gullon executive Felix Gullón in 2021, told Just Food it will look produce the bakery items Natural Biscuits had manufactured.
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By GlobalDataThe company said in its statement its turnover was €32m ($36.5m) in “its fourth year of operation”.
Without citing the source of its figures, the group said it currently enjoys the highest percentage growth in the biscuit sector, positioning itself as the fourth largest company in the market in volume terms and sixth by value.
Family Biscuits’ markets a range of products sold under its namesake, umbrella brand that have a range of sub-brands including Cookie Bites and the children-focused Tostakids.
