CONTINENTAL BAKERIES acquired by BISCUIT INTERNATIONAL
Context
Biscuit International acquired Continental Bakeries from Goldman Sachs Asset Management. This "transformational" deal allows the group to effectively double its size, increasing revenue from EUR530 million to over EUR900 million. The combined entity employs 4,500 people and operates 33 factories with a production capacity of 300,000 tons per year. The transaction was financed through a capital increase subscribed by Platinum Equity and the management team, alongside new debt facilities. The deal creates an undisputed pan-European giant with over 80% of sales generated outside France.
CONTINENTAL BAKERIES, which reported an EBITDA margin of [members only] in 2021, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the AgriFood sector (11.0x).
-> Deep-dive in AgriFood market trends
Target
Continental Bakeries is a leading European bakery group specializing in private label biscuits, bread replacements (toasts), and gingerbread. Before the acquisition, it was owned by Goldman Sachs Asset Management (since 2016). The company operates 13 factories across Northern Europe (Netherlands, Belgium, Germany, Poland, Sweden). While primarily a private label manufacturer, it also owns regional brands like Haust, Gille, and Grabower. The company is a key player in the "healthy snacking" segment with a strong line of gluten-free and low-sugar products.
Ent. Value
€250–500M
Equity Value
[members only]
Multiples
EV / Revenue
[members only]
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (EUR)
Similar deals in Food Processing
Similar deals in Food Processing
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 11/2021 | CVC | LIPTON TEAS AND INFUSIONS | NETHERLANDS | Coffee & Tea |
| 11/2021 | BGH CAPITAL | LAURENT BAKERY GROUP | AUSTRALIA | Bakery / Pastry |
| 09/2021 | 3I | EUROPEAN BAKERY GROUP | NETHERLANDS | Bakery / Pastry |
| 09/2021 | ROYAL DSM | FIRST CHOICE INGREDIENTS | UNITED STATES | Ingredients |
| 09/2021 | FRENCH FOOD CAPITAL / BPIFRANCE / TIKEHAU CAPITAL | MARKAL | FRANCE | Food Products |
| 09/2021 | ALTIA | ARCUS | NORWAY | Wines & Spirits |
| 09/2021 | ARDIAN | FLORIDA FOOD PRODUCTS (FFP) | UNITED STATES | Food Products |
| 07/2021 | CVC | PANZANI | FRANCE | Food Products |
| 06/2021 | KERRY GROUP | NIACET | UNITED STATES | Ingredients |
| 06/2021 | PILGRIM'S PRIDE CORPORATION | KERRY CONSUMER FOODS (MEATS AND MEALS BUSINESS) | UNITED KINGDOM | Meat & Cured Meat |
Other operations with BISCUIT INTERNATIONAL
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 11/2020 | PLATINUM EQUITY | BISCUIT INTERNATIONAL | FRANCE | Food Products |
REFERENCES
Revenue range: €250–500M
EBITDA range: €50–100M
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of CONTINENTAL BAKERIES by BISCUIT INTERNATIONAL are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.