Mexican group Bimbo, one of the largest in the world in the bakery niche, has officially announced that it has fully bought Vel Pitar, the largest bread producer in Romania, until recently controlled by the investment fund Broadhurst Investments.

The entire transaction is close to EUR 200 mln, according to information previously circulated by Profit.ro. The buyer now indicates a multiple of 8 x EBITDA without disclosing the final value.

In 2021, the last reported year, Vel Pitar had a business of RON 586.2 mln (EUR 120 mln) and a net profit of RON 68.5 mln (EUR 14 mln).

The Mexican group also confirmed that the transaction is completed and presented it as already among the most notable operations of the year.

andrei@romania-insider.com

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