The Romanian bakery company Vel Pitar, the largest bread producer in Romania, controlled by the investment fund Broadhurst Investments, was sold to the Mexican group Bimbo, one of the largest in the world in this niche, sources close to the transaction said.
Vel Vitar is part of the New Century Holdings (NCH) group, whose businesses are locally coordinated by Andrei Siminel. NCH representatives confirmed the transaction.”The shares of Vel Pitar SA were sold to the Bimbo group. Vel Pitar is a company owned by American investors (NCH Capital), but built and managed by an exclusively Romanian team, over a course of over 24 years. It is the largest producer of bread and bakery products in Romania, but more than being a “bread” producer, Vel Pitar is an innovative company. For the NCH Romania team, this transaction represents the 27th exit from great success from owned companies, to which are added 873 smaller exit transactions, but over 50,000 euros each, placing the NCH Romania team in the top 1% worldwide as long-term IRR. The group of Romanian managers continues to work on attracting new resources through the European Investment Fund, NCH and other investors.
Vel Pitar was launched in 2001, through the merger of four factories from the milling and baking industry: Mopariv Vâlcea, Berceni Bucharest, Granpan Tecuci and Panegrano Cluj. In the years that followed, it expanded its activities, acquiring other companies with the same profile, so that the group currently owns 10 production units in 9 main cities of Romania, where more than 2500 employees work.
Vel Pitar promoted the taste of traditional recipes with carefully selected ingredients of the best quality, specially packaged to preserve freshness and taste for a long time.
The company has invested heavily in modern, innovative technologies that have secured over 1 million customers every day.
The Mexican group Bimbo, on the market since 1943, is one of the most important globally, with operations in 33 countries in America, Europe, Asia and Africa and 197 bakeries, with annual business of about 15 billion dollars. In Europe, it is also present in Spain, France, Italy, Portugal, Great Britain, Russia, Switzerland and Ukraine.