Ferrero business CTH invest begins negotiations to acquire French snacks firm Michel et Augustin
pic: Michel et Augstin
A Ferrero-related business, CTH invest, has confirmed that it has started exclusive negotiations for a full acquisition of French-based snacks and biscuit firm, Michel et Augustin from Danone, writes Neill Barston.
The Italian founded confectionery group has continued a strong pattern of growth around the world with its activities, including considerable expansion of its manufacturing and distribution capabilities for the US market over the past couple of years.
As the business noted, Michel et Augustin markets premium, much-loved products including sweet biscuits, savory biscuits and snacks. These iconic brands are sold mainly in France and in six other markets. The business was founded in the French market in 2004 by Augustin Paluel-Marmont and Michel de Rovira, before being acquired by Danone.
The move for the company from Ferrero, is being done through its Belgian-based holding firm, CTH, and will be submitted to the relevant employee representative bodies for consultation and is expected to close in the coming months, subject to customary closing conditions.
Notably, the planned acquisition would strengthen the Ferrero ecosystem in France and mark the latest purchase in the premium biscuits market, following the acquisitions of Burton’s Biscuit Company and Fox’s in the UK, Kelsen Group in Denmark and Delacre in Belgium.
