Platinum Buys Biscuit

Platinum buys Biscuit.
   
Platinum Equity buys Biscuit International from Qualium Investissement.
   
Biscuit makes a range of products with European or local presence, including traditional biscuits and a growing mix for people with specific dietary needs (organic, low-calorie, sugar-free, gluten-free, milk-free, no palm oil). Created in 2016 by the merger of Poult (the French leader) and Banketgroep (Netherlands), it grew to include A&W (Germany), Stroopwafel (Netherlands), NFF (United Kingdom), and Army (Spain). The group now produces 130,000 tons of biscuits and waffles in 14 European factories, with 1,900 people, and €500m in annual sales.
   
Louis Samson of Platinum Equity said: ‘Biscuit International has an exceptional portfolio and a well-deserved reputation for high-quality products. We support the company's plan to continue expanding its offering and its international reach, both organically and through more add-on investments. We look forward to working with the management team to optimize the platform and maximize operational performance throughout the business.’
   
Jean Eichenlaub of Qualium said: ‘We are proud to have supported the development stages that led Biscuit International to become a leader in the European private label biscuit market We are happy with the progress made by the group and its teams since our first investment in March 2014, and we are confident about the opportunities ahead with the support of their new shareholder.’
   
Giampaolo Schiratti of Biscuit International said: ‘By combining rigor and a sense of commerce with the creativity of others, by developing innovation and purchasing synergies, the group is promised a bright future.’
   
Rothschild & Co served as financial advisor to Platinum Equity. Latham & Watkins served as legal advisor.
   
Natixis Partners served as financial advisor to Qualium. Cleary Gottlieb Steen & Hamilton served as legal advisor.
   
Jeausserand-Audouard served as legal advisor to Biscuit International.

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