Bridor, a unit of the Rennes, France-headquartered the Le Duff Group, on March 23 announced the conclusion of an agreement to acquire the Valencia, Spain-based Panamar Bakery Group, a major manufacturer and distributor of frozen baked goods that employs approximately 2,600 people and generated turnover of US $695 million in revenue last year.
While terms of the sale were not disclosed, the transaction reportedly represents the largest acquisition to date by the buyer. The Le Duff Group is targeting US $4 billion in turnover this year among its subsidiaries: Bridor (bakery); Gourming (ready meals); Catering Chains (Brioche Dorée, Del Arte, La Madeleine, and franchises); and property investments.
The family-run Panamar Bakery Group produces and exports bread, its core business, Viennese pastries and pâtisserie products to over 20 countries across four continents. It offers over 1,200 SKUs sold under four brands: Panamar, Cobopa, Pacfren and Panusa.
“We are embarking on this new chapter with confidence. The entrepreneurial spirit and family values that drive us form a common foundation that the Le Duff Group and Bridor will continue to nurture. This merger is fully in line with our ambitions for the future,” said Isabel Martinez, president of the Panamar Bakery Group.
“Integrating Panamar enables Bridor to take another decisive step forward by becoming a global leader in bakery and Viennese pastry products, and a major player in the Iberian Peninsula,” stated Philippe Morin, managing director worldwide of Bridor. “It will allow us to strengthen global industrial and logistics capacity in the 100 countries in which we operate.”
Bridor, an international specialist in the manufacture of premium frozen bakery products, continues to invest in the construction and development of existing factories, as well as in acquisitions. Its turnover has increased from US $869 million in 2021 to $2.9 billion in 2026. This global investment plan calls for doubling turnover by 2031.
Here’s the track record of expansion during the past five years:
• North America – expansion of the Bridor plant in Montréal, Canada (2021); and in the United States, acquisition of Lecoq Cuisine in Connecticut (2022), expansion of the Vineland plant in New Jersey (2025), construction of a plant in Salt Lake City, Utah (2026), and construction of a plant in Texas (2028).
• Europe – acquisition of of Panidor in Portugal (2022); purchase of Pandriks in the Netherlands (2024); continued investment in plants in Fulda, Germany ( 2024) and Meppel, the Netherlands (2025); construction of a factory in Falaise, France (2025); construction of a speciality products plant in Switzerland (2025); acquisition of the Panamar Bakery Group, Spain (2026).
• Asia-Pacific – acquisition of Laurent Bakery in Australia and New Zealand (2025); expansion of the Bridor plant in China (2025).
