Le Duff snaps up Spanish bakery peer Panamar

Le Duff Group, the French bakery and foodservice business, has swooped for Spain-based breadstuff and pâtisserie institution Panamar.

In a statement, Le Duff, the proprietor of France-based bakery large Bridor, described the woody arsenic the largest successful its history. Financial presumption were not disclosed. Le Figaro said Le Duff paid much than €1bn ($1.15bn).

Panamar, until present family-owned, makes bread, Viennese pastries and pâtisserie products for merchantability to retail and foodservice customers.

The company, which exports to much than 20 countries, employs 2,600 staff. It is forecast to make a turnover of €600m this year.

The determination for Panamar is the latest successful a bid of acquisitions by Le Duff for the Bridor business. In 2021, Bridor’s turnover stood astatine €750m and it is targeting €2.5bn this year.

“Integrating Panamar enables Bridor to instrumentality different decisive measurement guardant by becoming a planetary person successful bakery and Viennese pastry products and a large subordinate successful the Iberian peninsula,” Bridor CEO Philippe Morin said. Four years ago, Bridor snapped up Portuguese bakery concern Panidor.

Panamar president Isabel Martinez said the merchantability “is afloat successful enactment with Panamar’s ambitions for the future”. She added: “We are embarking connected this caller section with confidence.”

Bridor’s astir caller acquisition successful Europe came 2 years agone with a woody for Dutch integrated baker Pandriks. Last year, the institution acceptable retired plans for concern astatine Pandriks, arsenic good arsenic for caller bakeries successful France and Switzerland.

The radical has besides been spending connected its accumulation web successful the US. Last year, Bridor opened a caller enactment astatine its tract successful New Jersey. The institution has besides been gathering a caller mill successful Utah and different successful Texas. It wants to treble its worldwide turnover by 2031.

In March past year, the radical besides acquired Australia-based Laurent Bakery.

"Le Duff snaps up Spanish bakery adjacent Panamar" was primitively created and published by Just Food, a GlobalData owned brand.

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