French foodservice giant Le Duff Group has inked its largest bakery deal yet, in a merger with the €600m (£519m) turnover Panamar Bakery Group.
Le Duff’s bakery subsidiary Bridor will take on Panamar’s 2,600 employees and integrated production and distribution networks under the deal. Alongside the company’s 2022 acquisition of Portuguese baker Panidor, the acquisition will make Bridor one of the peninsula’s largest bakery players.
Exporting bread, Viennese pastries and pâtisserie products to over 20 countries, Panamar supplies premium frozen bakery goods to retail and the hospitality industry.
“Integrating Panamar Bakery Group enables Bridor to take another decisive step forward by becoming a global leader in bakery and Viennese pastry products and a major player in the Iberian Peninsula. It perfectly reflects our mission statement: to bring to life the bakery cultures of the world”, said Bridor CEO Philippe Morin.
Le Duff’s ambitious expansion plans have seen it swell Bridor’s revenues from €750m in 2021 to €2.5bn in 2026 through a series of acquisitions.
In that time, the company has bought up subsidiaries in Portugal, the Netherlands and Australia, and has expanded or constructed new factories in the US, France, Switzerland and China. The company plans to double its turnover to reach €5bn in 2031.
Bridor supplies bread and pastries to 90,000 restaurants, hotels and distributors in 100 countries.
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