Biscuit International adds Northumbrian Fine Foods to its portfolio
Biscuit International has acquired Northumbrian Fine Foods (NFF), the UK-based gluten and milk-free biscuit manufacturer, from CriSeren Foods.
Biscuit International already owns Poult in France, Banketgroep in the Netherlands and A&W in Germany.
Created in 1936, NFF has experienced strong growth in recent years and is now one of the UK’s largest gluten and milk-free sweet biscuit manufacturers, with an annual turnover exceeding £27m in 2017. As well as supplying supermarket own-label biscuits, NFF also owns the Prewett’s brand.
This acquisition is in line with Biscuit International’s strategy to continue expanding its products offering and geographical footprint whilst addressing growing consumption trends in Europe such as organic and free-from products.
It is hoped that the acquisition of NFF will allow Biscuit International to propose a wider offering to its European clients, whilst significantly reinforcing its presence in the UK. It will therefore enable NFF to address new markets throughout Europe for gluten and milk-free biscuits whilst at the same time offering Biscuit International the opportunity to benefit from NFF’s close working relationship with UK multiple retailers and brands.
Senior management at NFF will remain unchanged, with Biscuit International benefiting from the team’s experience to help drive growth in the European market. NFF senior management decided to invest in Biscuit International equity alongside the other Biscuit International senior managers.
Giampaolo Schiratti, Biscuit International CEO, said: “NFF’s expertise in gluten and milk-free biscuit production was a major attraction to us and the business provides an excellent fit into our portfolio of companies. We aim to further develop the business through innovation and creating exciting new products for the UK and European markets, and we anticipate this acquisition will lead our group to become Europe’s largest producer of gluten and milk-free sweet private label biscuits and strengthening the partnership with our customers, whether they are retailers or industrials.”
Stewart McLelland, managing director of NFF, added: “This acquisition by Biscuit International is great news for NFF and provides the platform for us to expand into Europe where we see significant opportunities for developing the gluten-free biscuit sector. Biscuit International are a forward-thinking business and their plans for NFF will further enhance our position as the UK’s number one gluten and milk-free biscuit manufacturer.”
In this transaction, Biscuit International was advised by Deloitte LLP (financial and tax advisor), Simmons & Simmons LLP and Cleary Gottlieb Steen & Hamilton LLP (legal advisors).
The shareholders of Northumbrian Fine Foods were advised by KPMG Corporate Finance (financial advisor), UNW (tax advisor) and Muckle LLP (legal advisor).