Platinum Looks to Buy Biscuit International

Platinum Equity has entered exclusive negotiations with Qualium Investissement to acquire private label biscuit maker Biscuit International.

Biscuit International’s products include sweet biscuits and waffles as well as a growing portfolio of organic, low-calorie, sugar-free, gluten-free, and milk-free specialty products.

Paris-headquartered Biscuit International was formed in 2016 by Qualium Investissement through the merger of Groupe Poult (France), which it acquired in 2014, and Banketgroep (Netherlands). Later add-on acquisitions include A&W Feinbackwaren (Germany) in December 2017; Northumbrian Fine Foods (United Kingdom) in May 2018; Stroopwafel & Co. (Netherlands) in June 2018; Arluy Sweet Biscuits (Spain) in July 2018; and Aviateur (Netherlands) in October 2019.

Today, the entire Biscuit International group, with approximately 1,900 employees, produces 170,000 tons of biscuits and waffles from 20 factories in Europe and has annual revenues of approximately €500 million ($550 million).

“We are proud to have supported the development stages that have led Biscuit International to become a leader in the European private label biscuit market,” said Jean Eichenlaub, president of Qualium Investissement. “We are pleased with the progress made with the group and its teams since our initial investment in March 2014 and we are confident about the opportunities ahead with the support of their new shareholder.”

“Biscuit International has an exceptional portfolio and a well-deserved reputation for high-quality products,” said Louis Samson, a partner at Platinum Equity. “We support the company’s plan to continue expanding its offering and its international reach, both organically and through additional add-on investments. We look forward to working with the management team to optimize the platform and maximize operational performance throughout the business.”

Platinum Equity invests in a range of industries including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, and telecommunications. The firm is currently investing from Platinum Equity Capital Partners IV LP, a $6.5 billion buyout fund, and Platinum Equity Small Cap Fund LP, a $1.5 billion buyout fund focused on the lower middle market. The firm has completed more than 250 acquisitions since its founding in 1995 and is headquartered in Beverly Hills.

Qualium Investissement is a Paris-based private equity firm that is backed by the Caisse des Dépôts (the “investment arm” of the French government) as its principal sponsor. Qualium currently has nearly €1 billion of assets under management and has invested in about 60 French companies since its creation in 1998.

Natixis Partners is the financial advisor to Qualium Investissement on this transaction and Rothschild & Co. is advising Platinum Equity.

© 2019 Private Equity Professional | November 25, 2019

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