French private-label biscuit maker Biscuit Poult has acquired Dutch counterpart Banketgroep in a move that the companies said has created “the European market leader in the private label biscuits segment.”
Financial details of the acquisition have not been disclosed. When contacted by just-food, the Toulouse-based firm would only confirm that it had acquired Banketgroep with the financial support of parent company, Qualium Investissement, an investment fund manager.
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“The Poult and Banketgroep combination will create the European leader in private-label biscuits,” said Mehdi Berrada, CEO of Poult. “The two companies’ complementary growth perspectives enable us to envisage the future with confidence and to accompany our customers’ international development strategies. I am enthusiastic about this new page in our group’s history.”
The newly-formed group will employ 1,200 people and generate EUR300m (US$332.5m) of annual revenue – Poult and Banketgroep contributing EUR180m and EUR120m respectively. The combined group will operate 11 production plants producing 100,000 tonnes of biscuits a year.
Commenting on the deal, Banketgroep CEO Kees Krikke, said it would open up opportunities for international development. “The tie-up between Poult and Banketgroep will accelerate our growth and favour our international development, particularly in the southern European countries.”
The enlarged company also anticipates further M&A to expand its presence in speciality sectors. According to Guillaume Peroz, director of Qualium Investissement said the deal is “the first step in building a pan-European leader in the private label biscuits industry and which will be targeting acquisitions in the organic and gluten-free biscuit segments.”
