Private markets manager CVC is investing in Grupo Monbake, a leader in the frozen dough sector in Spain. CVC funds are acquiring the entire stake in Grupo Monbake that was previously held by private equity firm Ardian and its co-investors in this project (Alantra, Artá, and Landon). The price of the transaction has not been disclosed.
Russell T. Bundy passed away on April 5, Bundy Baking announced. He was the founder of Russell T. Bundy Associates, which later became Bundy Baking Solutions, headquartered in Urbana, OH. He was a respected leader in the baking industry, with a spot on the inaugural class of the American Society of Baking’s ‘Baking Hall of Fame’, which he earned in 2007.
BAKO Group Limited announced the full acquisition of James A. S. Finlay Limited (Finlay’s Foods) from Northern Ireland, on April 3, 2024. Finlay’s employs a staff of around 60 people and sells food ingredients, including specialties for bakery, across the UK, Europe and Asia.
Vandemoortele announced it established a new partnership with Banneton, a manufacturer of premium freezer-to-oven croissants, Danishes and pastries in North America. As part of the agreement, Vandemoortele will acquire a majority stake in Banneton, while Victor and Alex Litinetsky, founders of Banneton, will stay invested in the capital and continue to lead the day-to-day management of the business after closing.
Subway introduced four wraps served on new, lavash-style bread, available from April 11 in the US restaurants. The range inspired by Middle Eastern cuisine is the chain’s first new bread option in three years, with a soft and bubbly texture. It also holds more ingredients than a wheat tortilla, Subway explains.
Reading Bakery Systems (RBS) promoted Kevin Bowes to Director of Engineering. In this new role, he is responsible for the engineering and design of all RBS equipment, as well as ensuring compliance with industry manufacturing standards and customer specifications are met.
Hovis bread prices will remain unchanged for the rest of the year, following an increase by almost a third as a result of the war in Ukraine and ensuing material and energy price hikes.
CSM Ingredients unveiled a new product range, presented in a new brand image, available for its clients in France under the Catherine brand name.
Mondelēz International launched its fifth annual State of Snacking™ report, a global consumer trends study. In addition, a standalone, complementary State of Snacking: Future Trends report is launched this year.
interpack started planning for the trade fair’s next edition, opening registration on March 20, about two years ahead of the fair. All halls of the Düsseldorf Trade Fair Center will be available again. The new assignment of halls according to sectors of the industry, which was introduced at the last interpack, will be continued.