Barilla, the pasta maker, is to sell its Kamps Bakeries arm after deciding the German unit is no longer a core part of its business.
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Barilla has mandated Lincoln International Investment Bank to sell Kamps, which has a network of over 900 bakeries and operates five production sites.
“After achieving a successful turnaround over the last few years, Kamps Bakeries is a solid and growing company, which we expect to continue to grow both in sales and profitability,” said Barilla CEO Robert Singer.
“However, managing shops is not a core activity for Barilla. As a consequence, we have decided to well Kamps so that it may pursue its growth objectives with a new owner.”
The move does not involve the bread-making unit Kamps Brot und Backwaren, which operates in the consumer market with leading brands Golden Toast and Lieken Urkorn.
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By GlobalDataBarilla refused to be drawn on the reasons behind keeping Kamps Brot und Backwaren.
