Grupo Bimbo acquired Vel Pitar, a leading Romanian bakery manufacturing bread, sponge cake, and sweet and savory specialty products. The national financial newspaper Ziarul Financiar estimates the value of the transaction is around EUR 200 m. In 2021, Vel Pitar earned EUR 120 m in revenues, with a net profit of EUR 13.9 m. The company has a staff of approximately 1,900.
The Romanian bakery is managed by New Century Holdings (NCH Capital). Vel Pitar was formed in 2001 following the merger of four factories from the milling and baking industry: Mopariv Vâlcea, Berceni Bucharest, Granpan Tecuci and Panegrano Cluj. The bakery delivers products daily to more than 7,000 stores throughout the country.
“We confirm the sale transaction of Vel Pitar company shares to Grupo Bimbo. For the NCH Romania team, this transaction represents the 27th highly successful exit from the owned companies, to which are added 873 smaller exit transactions, but over EUR 50,000 each, placing the NCH Romania team in the top 1% worldwide as IRR (internal rate of return – n. ed.) in the long term”, Ziarul Financiar quotes NCH Capital representatives.
Photo: Vel Pitar social media