Biscuit International, a leading player in the private label biscuit market in Europe, has announced the acquisition of Continental Bakeries from its majority shareholders Goldman Sachs Asset Management.
Continental Bakeries is described a leading European manufacturer of private label sweet biscuits, bread replacements, and toast with production facilities in the Netherlands, Belgium, Germany, Poland, and Sweden and a workforce of 2,300 people.
The acquisition will allow Biscuit International to grow its product portfolio and geographical footprint increasing its presence in major European markets, the company said.
Commenting on the deal, Biscuit International CEO Giampaolo Schiratti said: “The proposed acquisition of Continental Bakeries is a game changer for Biscuit International. Continental Bakeries is a very well-established company in Europe and its addition to our Group will be transformational, leveraging on a strong strategic fit in terms of product and geographic complementarity.
“We look forward to unlocking further synergies and market opportunities to reveal the full potential of this combination”, he added.
Source: Biscuit International