Biscuit International, a leader in private brand biscuits throughout Europe, has agreed to acquire a leader in biscuits and cakes in Portugal.
Paris-based Biscuit International and Dan Cake Portugal agreed to terms on an envisaged acquisition that broadens Biscuit International’s global reach in the butter cookies market. Over the last four years, the company also recently acquired Aviateur in the Netherlands, Arluy in Spain, Stroopwafel en Co. in the Netherlands, NFF in the UK and A&W in Germany in December 2017.
Dan Cake Portugal was founded in 1978, a family-owned business in Coimbra, generating an annual turnover of more than 55 million euros. Subject to antitrust approval, the proposed transaction will enable both companies to further increase their geographic presence in Europe and globally. In addition, Dan Cake Portugal and Biscuit International will benefit from enhanced commercial, product development and supply chain resources, allowing the combined group to better serve the growing and increasingly complex needs of their clients.
The Dan Cake Portugal management team, led by its CEO Mitesh Kantilal Jamnadas and CFO Virgílio Gonçalves Vitorino Alves, will continue to manage the company and assist Biscuit International with the successful integration of the two leading and sustainable businesses following the completion of the transaction.
“The proposed acquisition of Dan Cake Portugal is a win-win situation for both companies,” said Giampaolo Schiratti, CEO, Biscuit International. “Dan Cake Portugal is a very well-established company and a strong player in the butter cookies market. It would be an excellent addition to Biscuit International Group, both in terms of product portfolios and geographical coverage. It marks an important milestone in our pursuit to enhance the breadth of our high-quality product portfolio for the benefit of our customers and their consumers. We look forward to investing further in the business and helping Dan Cake Portugal to implement the considerable growth potential our international markets are offering."