US-based investment firm Platinum Equity is seeking to buy private-label biscuits supplier Biscuit International, owner of Northumbrian Fine Foods.
Platinum Equity has entered into exclusive negotiations with Qualium Investissement to acquire Biscuit International, which employs around 1,900 people and generated sales of more than €500m (£429m) in the past 12 months.
Based in Paris, Biscuit International was created in 2016 by the merger between Groupe Poult and Banketgroep and has gone on to acquire A&W Feinbackwaren in Germany, Stroopwafel & Co and Aviateur in the Netherlands and Arluy in Spain.
Last year, gluten-free biscuit manufacturer Northumbrian Fine Foods (NFF) was acquired by Biscuit International, which said the deal would give it access to NFF’s innovation and production capabilities to tap growth opportunities on the free-from biscuit market.
Platinum Equity said it would support Biscuit International’s plan to continue expanding its offering and international reach organically and through add-on investments.
“Biscuit International has an exceptional portfolio and a well-deserved reputation for high-quality products,” said Platinum Equity partner Louis Samson. “We look forward to working with the management team to optimise the platform and maximise operational performance throughout the business.”
Jean Eichenlaub, president of Qualium Investissement, said his firm was proud to have supported the development stages of Biscuit International.
“We are pleased with the progress made with the group and its teams since our initial investment in March 2014 and are confident about the opportunities ahead with the support of their new shareholder.”
The deal is subject to works council consultation, regulatory approval and customary closing conditions.