Grupo Bimbo ‘to buy six bakeries in Romania’

By: Trademagazin editor Date: 2024. 03. 12. 09:05

The baked goods manufacturer acquired the local bakery group Vel Pitar last January.

Mexican bakery major Grupo Bimbo is reportedly set to scoop up six more bakeries in Romania.

The group is said to be set to secure the new sites in a deal worth €100m ($108.9m), the Romanian business news sites Ziarul Finaciar and Profit.ro indicate.

The bread and baked goods factories are being bought from the family of local entrepreneur Siminel Andrei, according to unnamed “sources in the market” cited by Ziarul Finaciar.

Last February, Ziarul Finaciar reported that Andrei had invested €10m in two bread factories. These are said to be located in Brăila in eastern Romania, and Craiova in the southwestern region of the country.

Commenting on the latest acquisition in a statement sent to the publication, a Grupo Bimbo spokesperson said it could “confirm our expansion on the Romanian market and, together with it, our group’s solid purpose to continue to nourish a better world working with valuable and skilled people and bringing quality and relevant products on shelves for our consumers in each country”.

Last year, Grupo Bimbo bought Romanian bakery business, Vel Pitar, from New York-based private-equity fund NCH Investment, where Andrei is vice president.

Presenting its financial results for 2023 last month, the Takis crisps producer forecasted a “transitional phase” in 2024 as it looked to boost revenues and EBITDA.

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