Parle in talks with Poland’s Dr Gerard to expand cookie basket
19 Oct 2022
Parle Products, India’s top biscuit manufacturer, is in talks foe a possible acquisition of Poland-based biscuit and cookies company Dr Gerard from private equity firm Bridgepoint, newspaper reports said on Tuesday.
The Polish company is valued at around Rs1,000-1,200 crore, reports citing people aware of the matter said, adding that the cost of acquisition could exceed Rs1,600 crore.
Dr Gerard, the second largest biscuit manufacturer in Poland, has over 200 biscuit and snack brands, according to reports.
The reports also said the talks are still exploratory in nature and that there was no certainty that the deal would go through. Dr Gerard was initially looking for a contract manufacturer, but Bridgepoint later decided to put the company on the bloc.
Parle has never been an acquirer, although it has sold some of its own brands. If the deal goes ahead, it will be Parle’s first acquisition.
Parle has been one of India’s most trusted food and beverages brands. According to a recent report by Kantar India, Parle topped the Indian basket for the 10th consecutive year.
Buy-out firm Bridgepoint acquired Dr Gerard from French Groupe Poult, in 2013, for an undisclosed sum.
Bridgepoint appointed Houlihan Lokey for the sale of Dr Gerard earlier this year but the ongoing Russia-Ukraine war and the geopolitical volatility in Europe slowed the process.
Established in 1929, Parle has grown to become India's leading manufacturer of biscuits and confectionery with a 150+ product range 36 popular brands and 21+ export destinations
It is also the maker of the world's largest selling biscuit, Parle-G, and a host of other popular brands.