Continental Bakeries, a wholly-owned portfolio company of NPM Capital, has reached agreement with the shareholders of German company Grabower concerning the acquisition of Grabower Süsswaren GmbH, Wolf Süsswaren GmbH and Tomala Waffelspezialitäten.
Grabower has four production sites, all of which are located in Germany, and specialises in chocolate kisses, crispbread, waffles and biscuits. Grabower realised turnover of € 65 million in 2009. Grabower holds a strong position in Germany and various export markets. The company’s head office is in Grabow, which is also where one of the production locations is situated. The other production locations are in Würzen, Arnstadt and Altenschönbach.
Continental Bakeries is a leading player in the European private label biscuit market with top-three positions in the markets in which it operates. Continental Bakeries has eleven production sites located throughout Europe and specialises in the development, production and distribution of private label cookies and biscuits, bread replacements, and toast and snacks. The group achieved turnover of € 285 million in 2009. Continental Bakeries has sales offices in the Netherlands, Germany, Belgium, France, Sweden, Austria and Poland.
Ruud van Henten, CEO of Continental Bakeries, says the combination of Grabower and Continental Bakeries will strengthen their collective position and provide new opportunities for further growth and a wider product range. This will make it possible to provide clients with even better and more international service.
The proposed acquisition is still subject to the approval of the German and Austrian competition authorities.
