Merger creates "European leader" in private label biscuits

Merger creates "European leader" in private label biscuits

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.

"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."