Romanian bakery and pastry: a growing market

• The fresh bakery and pastry sector in Romania has experienced remarkable expansion in the last 16 years, becoming one of the most dynamic segments of the food industry.

Available financial data shows a substantial increase in both revenue and profitability, amid the expansion of bagel and bakery store networks, but also challenges related to costs and competition.

right OF INFORMATION centralized until February 2026 (based on submitted balance sheets), in 2024 7.015 active companies reported results under the CAEN code 1071, generating a cumulative net turnover of 12,9 billion lei, a net profit balance of 738,5 million lei and a total number of 61.021 employees.

Sector evolution between 2008 and 2024

From the financial crisis of 2008–2009 to 2024, the sector has undergone a major transformation. Cumulative turnover rose from under 2,8 billion lei in 2008 to 12,9 billion lei in 2024 – a multiplication of approximately 4,7 times (367% increase), significantly exceeding the cumulative inflation rate of approximately 100% over the period.

Profitability has evolved even more spectacularly: the sector's cumulative net profit has increased from 102,1 million lei in 2008 to approximately 1,1 billion lei in 2024 (a multiplication of approximately 10,7 times for adjusted net profits). The net profit balance (net profit minus losses) reached 738,5 million lei in 2024, although it decreased by 35% compared to 2023 due to higher losses and reduced profit margins at certain companies.

The net margin (calculated on the net profit balance) went from 1,88% in 2008 to 5,73% in 2024, with a peak of 9,57% in 2023. If we consider only the actual net profit (without losses), the margin reached 8,44% in 2024 compared to 3,7% in 2008.

The number of employees increased by 63%, from 37.322 in 2008 to 61.021 in 2024. Labor productivity improved considerably: turnover per employee rose from about 74.000 lei to over 211.000 lei (+185%), and net profit per employee (profit only) from 2.736 lei to 17.817 lei (+551%).

The total equity of companies in the sector increased from 907,5 million lei to 3 billion lei (+229%), and the ROE (return on equity) on the balance of net profit reached 24,76% in 2024 (with a historical maximum of over 37% in 2022).

The estimated profit tax paid by the sector increased from 18,9 million lei in 2008 to about 180,8 million lei in 2024 (+857%).

Currently, approximately 14.135 functional companies are active out of the total of 16.008 registered in NACE 1071, the rest being in various stages of inactivity, insolvency or bankruptcy.

The largest employers in the field (2024)

1. Tinervis Group SRL (Luca pastry shops) – 2.691 employees (+13% compared to 2023)
2. Vel Pitar SA – 2.022 employees (+3%)
3. Brio Group SRL (Petru bagels) – 629 employees (+2%)

Top 25 companies by turnover in 2024

Here are the main players, ordered by reported net turnover (data through February 2026):

1. Vel Pitar SA – 914,5 million lei, net profit 99,1 million lei, 2.022 employees (controlled by the Mexican group Bimbo through Spanish entities – 99,83% + 0,17%)
2. Tinervis Group SRL (Luca) – 617,1 million lei, profit 38,9 million lei, 2.691 employees (George V. Adrăgăi – 100%)
3. Lorraine SRL – 496 million lei, net loss 18,9 million lei, 525 employees (La Lorraine Bakery Group – Belgium, 100%)
4. Fornetti Romania SRL – 239 million lei, profit 17 million lei, 310 employees (Aryzta Hungary Group Holdings Kft. 97,5% + Fornetti Kft. 2,5%)
5. Three Bakers SA – 186,9 million lei, profit 35,6 million lei, 409 employees (Bimbo through Spanish entities – 96,24% + 3,76%)
6. Lidas SRL – 186 million lei, loss 32,3 million lei, 577 employees (Elena Anastase directly and through Cristal Proiect SRL) – company in bankruptcy proceedings
7. Lantmannen Unibake Romania SA – 168 million lei, loss 49 million lei, 179 employees (Lantmannen Unibake Holding AB + Lantmannen Unibake Sweden AB – Sweden)
8. Panemar Milling and Bakery SRL – 138,9 million lei, profit 22,9 million lei, 584 employees (Nicolae Chiorean majority, along with other individual shareholders)
9. Harmopan SA – 116,7 million lei, profit 12,7 million lei, 413 employees (shareholders: individuals)
10. Brio Group SRL (Petru) – 114,4 million lei, profit 1,3 million lei, 629 employees (Cosmin Dragoș Mancaș 95% + Radu Bejan 5%)

The following positions include: Dobrogea Panificație, Derpan, Fornetti Kft (permanent headquarters), Agropan Impex, Lido Gîrbea, Nadenka (Gigi pretzels), Primo Prod (Magic croissants), Eldi Brutăria, R & B Com (Baia Sprie Bakery), Valencia Trading, Click Top Management (Bimbo), Madexport, Frontera Trading, Mărțișorul Com and Koksal Prod Impex 96.

The sector remains dominated by a combination of local players (Luca, Petru, Gigi, etc.) and multinationals (Bimbo, La Lorraine, Lantmannen, Fornetti/Aryzta), with a clear trend of consolidation. Even if 2024 brought a slight moderation in profitability compared to 2023, the long-term trend indicates a resilient segment with high development potential.

Article source: Baguette shops are gaining ground. Profits from bakery and pastry production increased 10,7 times between 2008 and 2024. Luca and Petru, in the top 3 employers. Lidas, in preventive arrangement

Article written by Gabriela Dan, Editor-in-Chief Arta Albă

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