Grupo Bimbo – over 200 bakeries and counting. NNDKP assisted the Mexican investor in acquiring Vel Pitar
April, 2023 - Bucharest, Romania
Nestor Nestor Diculescu Kingston Petersen (NNDKP) confirms that Grupo Bimbo has included Romania in its global growth strategy and has completed the acquisition of Vel Pitar as nation-wide development platform.
NNDKP acted as local legal counsel for Grupo Bimbo, advising on all aspects of the acquisition of Vel Pitar, from transaction structuring to negotiation and completion. NNDKP assigned a multidisciplinary team specializing in agribusiness and food M&A (as well as day-to-day) assistance to advise on the transaction. The team was coordinated by Adriana I. Gaspar (Senior Partner), and included Corina Dumitru (Partner), George Trandafir (Managing Associate), and Claudia Lazar (Senior Associate) as core experts and partners Ioana Niculeasa, Roxana Ionescu, Roxana Abrasu and Anca Diaconu leading the real estate, environment, labour and competition assistance.
“For a summary illustration of this iconic Mexico-based company with over 75-year deep roots, I only note that, with the acquisition of Vel Pitar, the brands Vel Pitar, French Toast, Chef Gourmand, Grâu Întreg, Domneasca, which are highly popular among Romanian consumers, joined the extensive Grupo Bimbo brand family which counts more than 100 brands. Approximately 1,900 employees in 12 Vel Pitar bakeries became part of a community exceeding 135,000, spread around the globe in over 34 countries.
However, Grupo Bimbo is not only a major player in the bakery industry in figures, but also a front runner in terms of values, being recognized for six consecutive years, the last time in 2022, as one of the most ethical companies and the only one in this sector.
With ethics, passion and performance as common corporate culture ground, it was a pleasure and a privilege for NNDKP to assist Grupo Bimbo in expanding its operations in Romania at a time when the region increasingly needs powerful and resilient investors to support its key industries against disruptions”, commented Adriana I. Gaspar, Senior Partner, NNDKP.
This transaction complements the M&A portfolio of deals in which NNDKP has been involved recently in industries such as technology and IT, food and agri-business, energy and natural resources, finance and insurance, automotive and medical services. These projects add to an impressive track record the firm has built in over 30 years of providing assistance in transactions with a cumulative value of tens of billions of euros, including in projects that have shaped the local business market.
