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Panelto Foods joins European Bakery Group

Panelto Foods, an Irish bakery group specializing in bake-off artisan breads, will join European Bakery Group, establishing the UK and Ireland platform within the pan-European bakery group. European Bakery Group was formed in May 2023 with the combination of Dutch Bakery, a leading bakery group selling home bake-off bread and snack products, and coolback, a leading German-based bakery group, a bake-off bread specialist. Dutch Bakery, coolback and Panelto Foods will be key pillars of the European Bakery Group going forward. The transaction is subject to customary merger clearance.

Panelto Foods is a market leader in the UK and Ireland across its key product categories of pre-packed thaw and display rolls, bake-off sandwich breads and rolls, and bake-off loaves as well as baguettes. The enlarged group will benefit from a complementary product assortment and customer base across Europe, 3iGroup details.

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Brian O’Grady, CEO Panelto Foods, said: “We are delighted to be joining European Bakery Group. Together, we will be able to reach new markets, capitalize further on the growth opportunities within the UK, Ireland and Europe and benefit from the size and scale of the combined platform.”

Raoul Vorage, CEO European Bakery Group, said: “Panelto Foods is an excellent fit for European Bakery Group with complementary product assortments and geographies. We look forward to partnering with Panelto Foods and continue to execute the international growth strategy of European Bakery Group.”

Bastiaan Peer, Partner 3i, said: “The combination of coolback, Dutch Bakery and Panelto Foods firmly establishes a high-quality pan-European platform in the fragmented European private label market for bake-off bread, which has been at the core of our original investment thesis. With Panelto Foods, European Bakery Group further expands its footprint, diversifies its customer base, and further strengthens the platform for continued organic as well as inorganic growth.”

Backing this partnership, 3i is an international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America.

Photo: Panelto Foods social media