Davidson Kempner and Afendis-backed Cerealto completed the acquisition of Hill Biscuits from LDC.

Davidson Kempner and Afendis-backed Cerealto, a pan-European biscuits, breakfast cereals, snacks and pasta producer, completed the acquisition of Hill Biscuits, a Manchester-based biscuits manufacturer, from LDC, a mid-market private equity house. Financial terms were not disclosed. "This acquisition marks a pivotal moment in our journey to become the leading provider of everyday essential biscuits. This exciting opportunity allows us to harness and energise the experience and excellence of our two UK bakeries, enhancing our capabilities to meet customer needs," Frank Bird, Hill Biscuits CEO.