Biscuit International confirms acquisition of Dan Cake Portugal
Private label specialist Biscuit International, has confirmed a deal to acquire biscuit producer Dan Cake Portugal to build on its existing portfolio of brands across Europe.
The company, which has its headquarters in Paris, France, explained the move was part of its wider growth strategy, having gained several key businesses in the past three years including Aviateur and Stroopwafel en Co in the Netherlands, Arluy in Spain, NFF, and A&W in Germany. The terms of the agreement have not been released, but are subject to antitrust procedures.
Founded in 1978, Dan Cake Portugal (pictured at last year’s ISM event with its Danesita brand) is a family-owned Portuguese company headquartered in the region of Coimbra. The company is a respected flagship leader in the butter cookies segment in Portugal, manufacturing several other products for the local and international markets. It operates a sustainable, committed and successful operation with an annual turnover of more than 55 million euros.
As Biscuit International (which is also produces healthier option biscuit ranges), noted, its latest deal will capitalise on the complementary product portfolios and skill sets of the two companies. Both companies will 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.
Giampaolo Schiratti, Biscuit International CEO, said: “The proposed acquisition of Dan Cake Portugal is a win-win situation for both companies. 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.”
Kantilal Jamnadas, the majority-owner of Dan Cake Portugal added: “The acquisition by Biscuit International is an exciting development for Dan Cake Portugal, a clear and established leader in the market. In Biscuit International, we have found a sound and experienced partner, allowing Dan Cake Portugal to reinforce its local lead and expand its international position. Biscuit International’s management team have a solid track-record of acquiring and successfully integrating family-owned businesses such as Dan Cake Portugal, taking them to the next growth step. I am therefore convinced that this transaction will allow Dan Cake Portugal to enter a positive phase of its development for the benefit of our organisation and our teams, our products, our clients and our customers.”