UK snacks maker United Biscuits has said it has reached an agreement to purchase Portuguese biscuit manufacturer Triunfo Productos Alimentares from Nutrinveste SGPS.

The agreement, which is awaiting the approval of the Portuguese competition authorities, will increase United Biscuit’s turnover in the Portuguese biscuit market to €55m (US$69.3m), the company said.

Triunfo, which employs 250 people, makes biscuits under the Hookie, Clásicas, Waferland, Corintia and Chipmix brands.

“The acquisition of Triunfo represents an excellent strategic fit and will bring us closer to our goal of becoming the leading Iberian biscuit manufacturer. Our existing business in Southern Europe has performed very strongly and we are confident both Triunfo and UB’s business in Portugal will benefit from being a part of a larger Group,” said Malcolm Ritchie, United Biscuits’ chief executive.