Biscuit International has acquired UK-based gluten and milk-free biscuit manufacturer Northumbrian Fine Foods (NFF) from CriSeren Foods.
NFF produces Prewett’s range of branded biscuits and also supplies supermarket own-label biscuits.
The company employs 225 people at its site on the Team Valley in Gateshead. Its annual turnover crossed £27m in 2017.
NFF has launched over 100 new products having into the UK retail sector in the last 12 months.
Biscuit International said NFF’s experience will help drive growth in the European biscuit market and will allow it to expand its offer to European clients, while significantly reinforcing its presence in the UK.
NFF managing director Stewart McLelland said: "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."
Senior management at NFF will remain unchanged, and Biscuit International said it will benefit from the team’s experience to help drive growth in the European market.
NFF Senior management decided to invest in Biscuit International equity.
Biscuit International CEO Giampaolo Schiratti said: “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.”
Qualium Investissement owns Biscuit International, which produces 100,000 tons of biscuits and waffles from 12 factories in Europe. It generated sales of € 300m in 2017, half of which outside France and employs 1,300 people.
A study by Euromonitor expects gluten and milk-free products to generate £8.7Bn in sales in Europe by 2021, a 60% increase compared to £5.4Bn in 2016, due to change in consumers’ lifestyle.
