The deal includes Continental’s 13 production facilities, which currently employ over 2300 staff. The business is best known for its manufacturing of bread replacements, biscuits and toast across own-brands including Grabower, Brinky, Bussink, Haust and Gille.  

Biscuit International said that the transaction will allow it to increase its foothold in European markets with the acquisition of the company’s product portfolio and manufacturing sites throughout the continent.  

The producer added that the deal represents a “key milestone” in its international roadmap, and aims “remain at the forefront” of low-sugar, eco-friendly and organic products. 

“The proposed acquisition of Continental Bakeries is a game changer for Biscuit International,” Biscuit International chief executive Giampaolo Schiratti said. “Continental Bakeries is a very well-established company in Europe and its addition to our Group will be transformational, leveraging on a strong strategic fit in terms of product and geographic complementarity.  The transaction will be a considerable milestone in our pursuit to create the European leader of private label biscuits, for the benefit of our European customers and their consumers.” 

Continental Bakeries chief executive Peirluigi Tosato added: “We are excited about joining the Biscuit International family. We look forward to entering a new phase in our development as an organisation and working together with the Biscuit International team to plan for, and following closing, ensure a successful integration.” Completion of the transaction is anticipated during the first half of 2022, subject to customary antitrust and works council approvals.