Biscuits Poult, France’s leading manufacturer of own-brand biscuits, has acquired Polish counterpart Lidier SKG for an undisclosed sum.
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With an annual turnover of EUR50m, Warsaw-based Lidier SKG operates from three production plants and employs 1,000 staff.
“We are very interested in Poland because it it is big market and where sales of food products is increasing and the retail sector is developing,” said Poult president Carlos Verkaeren.
He added that Poult was looking to make further foreign acquisitions – Lidier SKG, being the company’s first overseas deal. Poult wants to become “the leading European producer of retailers’ own-brand biscuits”, Verkaeren said.
The biscuit market in Europe is spread over more than 2,000 firms and there will be consolidation, he added.
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By GlobalDataThe Polish buy will increase Toulouse-based Poult’s annual turnover to EUR210m and double its workforce.
Poult was put for sale by private-equity owner LBO France earlier this year and remains on the block.
