BRUSSELS โ CTH Invest, a Belgian holding company affiliated with the Ferrero Group, has entered negotiations to acquire Michel et Augustin from Paris-based Danone. Financial terms of the transaction were not disclosed.
Michel et Augustin manufactures and markets a range of sweet and savory biscuits and snacks. The companyโs brands primarily are sold in France and six other markets. The company was founded in 2004 by Augustin Paluel-Marmont and Michel de Rovira. In 2016, Danone Manifesto Ventures took a 40% stake in the company. Three years later Danone increased its investment in the company to a majority stake.
โThe planned acquisition would strengthen the Ferrero ecosystem in France and mark the latest purchase in the premium biscuits market, following the acquisitions of Burtonโs Biscuit Co. and Foxโs in the UK, Kelsen Group in Denmark and Delacre in Belgium,โ CTH Invest said.
