Romanian bakery company Vel Pitar is being bought by Mexican multinational company Grupo Bimbo from private equity fund NCH Capital.
Vel Pitar was founded in 2001 through merging four NCH-pwned companies who had operations in bakery, milling and retail, and currently produces bread, rolls, doughnuts and pretzels to the retail business. The company operates ten factories in nine Romanian cities, serving supermarkets, hypermarkets and small- and medium-sized shops through its distribution system, and employs over 2500 staff.
The acquisition proves strategic for Grupo Bimbo, who currently have no operations in Romania but have been expanding rapidly, as news last year announced its acquisition of St Pierre Groupe, a UK-based bakery company known for its brioche buns and other bakery products including brioche bagels, brioche sub rolls and croissants.
This is also on the back of its purchases of Indian bakery business Kitty Bread and Modern Foods in 2021, as well as its purchase of bakery assets from ARYTZA and cookie producer Emmy’s Organics.
In the last quarter of 2022, the company reported an increase in net sales of 20% and in its other accomplishments for the year, noted plans to add 1001 eletric vehicles to its distribution fleet in Mexico to reduce carbon emissions and Bimbo China’s operations being carried out with 100% renewable electricity.
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