• Vel Pitar, a major bakery manufacturer, was sold to a large Mexican group.
Bakery producer Vel Pitar, the largest bread producer in Romania, controlled by the investment fund Broadhurst Investments, has been sold to the Mexican group Bimbo, an important global operator in this sector.
The information was announced on Profit.ro, and the transaction is completed, to be announced this week at the opening of the Mexican stock exchange, where the Bimbo group is listed.
On the market since 1943, the Mexican group Bimbo, one of the most important globally, with operations in 33 countries in America, Europe, Asia and Africa and 197 bakeries, has annual business of about 15 billion dollars. In Europe it is also present in Spain, France, Italy, Portugal, Great Britain, Russia, Switzerland and Ukraine. Last year, the Bimbo Group reported sales of $17,2 billion and a net profit of $788 million. The group has over 100 brands, including Marias, Takis, Canelitos.
Transaction completed successfully
In 2021, Vel Pitar reported business of 586,2 million lei and a net profit of 68,5 million lei, with over 1.900 employees. Controlled by the American investment fund Broadhurst, managed by NCH (New Century Holdings), the Vel Pitar company was launched on the market in 2001, after Broadhurst Investment took over the Romanian bakery companies Mopariv Vâlcea and Berceni Bucharest and united them under this brand, alongside the Granpan Tecuci and Panegrano Cluj factories.
NCH representatives confirmed information Profit.ro. "The shares of Vel Pitar SA were sold to the Bimbo group. Vel Pitar is a company owned by American investors (NCH Capital), but built and managed by an exclusively Romanian team, for over 24 years. It is the largest producer of bread and bakery products in Romania, but more than being a "bread" producer, Vel Pitar is an innovative company.
For the NCH Romania team, this transaction represents the 27th highly successful exit from owned companies, to which are added 873 smaller exit transactions, but of over 50.000 euros each, placing the NCH Romania team in the top 1% worldwide in terms of IRR (Internal Rate of Return) long-term.
Article written by Gabriela Dan, Editor of Arta Albă
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