German food group Dr Oetker has acquired Panovia Prod, a Romanian producer of pastry products, in a deal cleared by the local competition authority last Friday (30 August).
The transaction was conducted via local holding company Rimco, which owns Panovia, through Dr Oetker’s Romanian subsidiary for an undisclosed sum, according to a statement.
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Panovia supplies patisserie products to retail and foodservice channels. Grocery customers include Carrefour, Auchan, Metro and Billa. Dr Oetker’s Romanian unit manufactures pizza, frozen snacks, cake ingredients, dessert powder and preservatives for vegetables and fruits.
Local media reported the purchase of Rimco/Panovia was made from the Lebanese family, Halawani.
“Following a review of the transaction, the Competition Council has found that it does not raise significant obstacles to effective competition in the market, in particular by establishing or strengthening of a dominant position,” the statement from the anti-trust body read.
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It is the second acquisition by Dr Oetker in the space of a few months. The company bought Brazilian baking decoration firm Mavalério in July, again through a local subsidiary.
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