Grupo Bimbo Buys Largest Romanian Bread Producer

Mexican bread and bakery producer Grupo Bimbo, one of the largest baking companies in the world, has acquired Romanian bread maker Vel Pitar, local business magazine Progresiv reports.

Vel Pitar was controlled by Broadhurst investment fund, which is owned by New Century Holdings.

According to source, the transaction has been finalized and is to be publicly announced at the Mexican Stock Exchange this week.

Vel Pitar was part of a larger operation that also included Șapte Spice Milling, but Grupo Bimbo only acquired the bakery business.

Grupo Bimbo is active in 33 countries and territories in America, Europa, Asia and Africa. In Europe, it runs factories in Spain, France, Italy, Portugal, UK, Russia, Switzerland and Ukraine.

Vel Pitar is a company funded and run by Romanian management, established in 1999. It is the largest bread and bakery producer in Romania. The company owns 12 factories and over 170 bakeries.