Broadhurst’s Sale of Vel Pitar to Bimbo
D&B David și Baias, Romanian affiliate of PwC Legal, has advised the American investment fund Broadhurst in the sale of the Vel Pitar Group – Romania’s largest bakery producer – to Mexico’s Grupo Bimbo.
Broadhurst is managed by New Century Holdings (NCH Capital), a US-based investment group established in 1993 with a focus on CEE agribusiness investments. The Broadhurst investment fund has held and developed Vel Pitar for 20 years. Active in the Romanian bakery and cereals sector, Vel Pitar supplies goods from its 10 nationwide factories to over 7,000 stores on a daily basis.
Bimbo is a Mexico-based international bakery group with around 140,000 employees. The group posted revenue of $17.1 billion in 2021.
D&B David și Baias managing partner Sorin David provided assistance to Broadhurst in the negotiation and signing of the transaction, as well as on aspects related to the closing of the sale process. “I would like to thank Broadhurst representatives for the trust they have granted me to assist them in a very important transaction both for the American investment fund and for the Romanian market,” Sorin David said in a statement on the acquisition.
“The sale of Vel Pitar marks the entry of a strong player on the local market, but also the transition to a new stage of development of the company, after being taken over by one of the largest bakery groups in the world.”
