Platinum Equity has closed its acquisition of private label biscuit maker Biscuit International from Qualium Investissement. Platinum began negotiating with the company on this transaction beginning in November 2019.
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).
“Biscuit International has an exceptional portfolio and a well-deserved reputation for high-quality products,” said Louis Samson, a partner at Platinum. “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 V LP, a $10.0 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.
Rothschild & Co. was the financial advisor to Platinum Equity on this transaction.
© 2020 Private Equity Professional | February 18, 2020