Biscuit International has agreed terms for the acquisition of Dan Cake Portugal, a leading producer and distributor of biscuits, cookies and cakes in Portugal.
Dan Cake Portugal is a family-owned company and market leader in the butter cookies segment in Portugal, manufacturing several other products for the local and international markets at its two factories in Lisbon and Coimbra.
The Portuguese company generated global sales of €55 million in the past year (80% from exports), with most products sold under private label and for co-manufacturing customers, in addition to 'Danesita' and 'Dan Cake' brands.
France-based Biscuit International is a leading European company in the private label tasty and healthy biscuits market, generating €530 million in pro-forma sales during the last 12 months, of which around two-thirds was generated outside of its home market.
Once the deal receives antitrust approval, the enlarged Group will produce around 200,000 tonnes of biscuits and waffles from 20 factories in Europe.
The Dan Cake Portugal management team, led by CEO Mitesh Kantilal Jamnadas and CFO Virgílio Gonçalves Vitorino Alves, will continue to manage the company.
The announced deal follows a series of acquisitions by Biscuit International: Aviateur in 2019; Arluy, Stroopwafel en Co. and NFF in 2018; and A&W in 2017.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine