Mexican bakery company Grupo Bimbo has purchased local leader baker Vel Pitar from the private equity fund NCH Capital, headquartered in US. The transaction, which marks Grupo Bimbo’s entrance on the Romanian market, was closed at the beginning of 2023. Deloitte assisted the transaction.
“The successful completion of this landmark transaction is the result of several months of work throughout last year and marks the world’s largest bakery company’s entrance on the Romanian market. I would like to thank Bimbo Group for giving us the possibility to be part of this milestone transaction in the bread industry and wish them a swift integration of the business in their global or regional teams,” said Radu Dumitrescu, Financial Advisory Partner-in-Charge, Deloitte Romania.
Grupo Bimbo is the largest baking company in the world, with presence in 34 countries located in America, Europe, Asia and Africa. At the end of December 2022, it had an annual market capitalization of USD 19 billion and over 137,000 employees.
Vel Pitar, the leader of the Romanian bakery market, owns ten factories and has roughly 1,800 employees.