Mexican bakery group Bimbo informed its shareholders that a year after it took over Romania’s leading player Vel Pitar for EUR 200 million, it expanded with another deal that includes Trei Brutari and three franchisees owned by local entrepreneur Andrei Siminel, Profit.ro announced. 

All companies posted aggregated revenues of around RON 300 million (EUR 60 million) together last year. The largest of them had a net profit margin of 23%.

Trei Brutari is the second largest player in Bucharest and the southern region of Romania, with three facilities in Targoviste, Iasi, and Buzau. Last year, the company had business of RON 176.5 million (EUR 35 million, up from RON 149.5 million in 2022) and a net profit of RON 40.9 million (EUR 8 million, more than double from RON 18.4 million in 2022).

The takeover also includes three other entities owned by the family of Andrei Siminel, the manager of the investment fund that sold Vel Pitar last year – namely Click Top Management. This operates one of the newest bread factories in Craiova, which produces and distributes the Maritza and Kira brands, with a turnover of over RON 53 million. 

The second out of the three firms taken over besides Trei Brutari is Objectives, Vel Pitar’s franchisee in Brăila, which last year launched the procedure for building a factory in Constanța. It had a business of over RON 73 million. 

The third one is Strategic Ventures, with a modern bakery factory in Dumbrăvița, Timişoara, and a turnover of over RON 21 million.

iulian@romania-insider.com

(Photo source: Arne9001/Dreamstime.com)