Lantmännen Unibake has acquired a fast food bakery from Hungarian milling and bakery group Elsö Pesti for an undisclosed fee.
The move is the fifth major acquisition the company has made since 2008, including Finnish bakery Baco Oy in 2008.
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The acquisition of the new production capacity in Hungary, the company said, was part of its international expansion strategy.
Lantmännen Unibake CEO Bent Pultz Larsen, said: “We believe that building on existing knowledge is essential for our future growth. Therefore, we are proud to announce the acquisition of a new bakery in Hungary, a very important step in our expansion in the Central European region. We want to follow our international customers into the Central and Eastern European market and with production in Russia, Poland and now Hungary we have the best possible setup for matching our customers’ needs and demands for the future.”
Larsen added that the Hungarian bakery also secures Lantmännen Unibake an ideal production platform and direct access to a well-established sales and distribution network throughout the region.
“With its location in the Central European region, the Hungarian market has a remarkable potential for future growth both in existing as well as new and unexploited sales channels”, he said.
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