Parle in talks to acquire Polish biscuit brand dr Gerard, says report
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India's largest biscuits company Parle Products is reportedly in talks with private equity (PE) firm Bridgepoint to buy Polish cookies and biscuits company, dr Gerard. The Polish company is currently valued at Rs 1,000-Rs 1,200 crore, according to the Economic Times (ET).
dr Gerard was bought by Bridgepoint from France's Groupe Poult in 2013 for an undisclosed amount. The company, in 2022, appointed Houlihan Lokey to oversee the sale of dr Gerard.
The sale was postponed due to the geopolitical uncertainty rising out of the Russia-Ukraine war. The people aware of the matter said that there is still no surety if the deal will go forward.
"There were some initial talks held and it (Parle) has not progressed into anything significant yet," an official told ET.
The initial discussions between dr Gerard and Parle were around the manufacturing opportunities, but Bridgepoint decided to put the company on the block. If the deal goes forward, it will be the first acquisition for Parle.
"Biscuit makers are all trying to upgrade their offering through premiumisation. Parle is still predominantly a mass brand and an acquisition will help access a ready-made portfolio. dr Gerald has been a target for a long because it is PE-owned but Parle has never bought anything in India, leave alone cross-border. So it will be interesting," an investment banker told ET.
dr Gerard was launched in 1993 and has over 200 varieties of biscuits and salty snacks. Parle, on the other hand, has been among the most trusted FMCG brands in India. According to a recent report by Kantar India, Parle topped the rankings for a record 10 years in a row.
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