Czech bakery group Penam is set to enter the Hungarian market through the acquisition of bread maker Ceres.
The deal also sees Penam, which is controlled by Czech food conglomerate Agrofert, take control of Ceres subsidiary Multi, which focuses on gluten-free products.
Go deeper with GlobalData
Penam general director Jaroslav Kurcíksaid that the acquisition would expand its presence central Europe, increasing its range of toast breads and providing the opportunity to extend the company’s portfolio of pre-baked products.
Financial details of the deal were not disclosed.
The takeover still has to be approved by anti-monopoly offices.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
