Platinum Equity completes acquisition of Biscuit International

American private equity investment firm Platinum Equity has completed its acquisition of French private label biscuits manufacturer Biscuit International.

The deal, first announced in November, forms part of Platinum Equity’s strategy to increase its momentum in Europe.

Biscuit International distributes a wide range of biscuit products with a European or local presence.

Its portfolio includes biscuits that are organic, low-calorie and free from sugar, gluten and milk.

It employs almost 1,900 people and reported sales greater than €500m in the last 12 months. Of its total sales, approximately two-thirds came from outside France.

Platinum Equity partner Louis Samson 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 additional add-on investments.

“We look forward to working with the management team to optimise the platform and maximise operational performance throughout the business.”

Biscuit International has its headquarters in Paris. The merger of Groupe Poult and Banketgroep created the company in 2016.

Neither company has divulged any financial details.

Rothschild & Co served as financial adviser to Platinum Equity while Latham & Watkins acted as its legal adviser.

In May, Biscuit International announced its acquisition of Northumbrian Fine Foods (NFF). It acquired the UK-based manufacturer of gluten-free and milk-free sweet biscuits from CriSeren Foods.