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French biscuit company Poult secures €25m investment from CM-CIC

FBR Staff Writer Published 15 December 2016

French biscuit company Poult has secured an investment of €25m from CM-CIC Investissement to support its growth plans in France as well as entire Europe.

With the investment, CM-CIC Investissement has joined a pool of investors led by majority shareholder Qualium Investissement.

Founded in 1883, Poult claims to be the second largest biscuit manufacturer in France, with a market share of 35% in the private label segment.

Stéphane Vermot-Desroches and Antoine Arlet of CM-CIC Investissement said: "We were attracted by the quality of the management team and the excellent fit between the two companies.

"They complement each other very well in geographical locations, because they address different countries, and in product terms, because they operate in distinct categories in which each of them has a dominant position.

"There is major scope for generating synergies, in terms of both commercial strategy and sharing expertise, which means that it can enter new segments of the European market, such as gluten-free and organic products.”

Poult’s product range comprises nine biscuit categories that include cookies, chocosticks, tarts and breakfast biscuits.

It has 800 employees and five biscuit factories across France.

Qualium Investissement director Guillaume Peroz said: "We are delighted to be welcoming CM-CIC Investissement as an investor. The group is already a leading player in the European private label biscuit market, and CM-CIC's Investment's support will help with its sector consolidation strategy.”

Poult, based in Toulouse, had purchased Dutch based waffle producer BanketGroep in July to form a combined group.

BanketGroep has six production plants with 400 employees. It is claimed to have a 50% market share in caramel and Belgian-style waffles in Europe.

The merged Poult and BanketGroep group is looking to make acquisitions in other European countries besides claiming to develop a new healthy biscuits segment.

Image: Biscuit maker Poult has secured €25m investment from CM-CIC Investissement. Photo: courtesy of artur84/FreeDigitalPhotos.net.