France’s leading manufacturer of own-brand biscuits, Biscuit Poult, has been put up for sale by its owner, private-equity group LBO France, just-food understands.
Last month, LBO France sold Poult’s Polish subsidiary, Dr Gerard, to private-equity counterpart Bridgepoint for an undisclosed sum.
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While LBO France has declined to comment on reports of the sale of Poult, a source familiar with the situation told just-food the process was underway. A shortlist of potential buyers, both trade and financial groups, has been drawn up.
“Under LBO France’s ownership, Poult has thrived, in terms of growth in turnover and EBITDA since it took over the firm in 2006. But as with many private-equity specialists, its time at the helm is coming to a natural end. Now is the time for a new investor to take control and lead the firm through a new phase in its development,” the source said.
According to unconfirmed reports, Poult is on course to post a 2013 turnover of EUR185m. Its annual EBITDA is estimated at EUR25m and has increased by 50% since 2007.
LBO France’s food industry portfolio also includes fruit compotes and milk-based desserts maker, Materne Mont Blanc, salmon and foie gras firm Labeyrie and meat processor EVS.
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By GlobalData
