Lantmannen Unibake Continues International Expansion With Hungarian Acquisition
In line with its international expansion strategy, Lantmannen Unibake, , which is one of Europe’s leading frozen bakery products suppliers, is acquiring a new fast food bakery from Hungarian milling and bakery group Elso Pesti for an undisclosed fee. The acquisition of new production capacity in Hungary strengthens the Danish bakery group’s position in the Central European market.
“We want to follow our international customers into the Central and Eastern European market and with production in Russia, Poland and now Hungary we have the best possible set-up for matching our customers’ needs and demands for the future,” explains Bent Pultz Larsen, chief executive of Lantmannen Unibake.
The new Hungarian bakery also secures Lantmannen Unibake a solid production platform and direct access to a well-established sales and distribution network throughout the region. “With its location in the Central European region, the Hungarian market has a remarkable potential for future growth both in existing as well as new and unexploited sales channels,” he adds.
Five Major Deals
The deal marks Lantmannen Unibake’s fifth major investment in expanding its international presence since 2008. In February 2008, it acquired Baco Oy, the largest fast food bakery in Finland, as a step toward expanding its market share in the Baltics and Russia.
In April 2008, the company took its first steps toward establishing itself as a major player in the American bread market with its acquisition of Euro-Bake, one of the Southeast’s premier artisan bakeries, a 200-person bakery specialising in European inspired bread types.
In June 2008, Lantmannen Unibake acquired production capability in the UK for the first time with the purchase of Eurobuns, a leading bakery just outside London. The acquisition opened the door to the frozen bread market in the UK, of which Eurobuns at the time controlled around 50%.
In May 2009, Lantmannen Unibake became the majority shareholder in Bakehouse, the UK’s leading supplier of sweet and savoury pastries and speciality breads. The purchase continued Lantmannen Unibake’s massive investments in the British market making it the group’s biggest market.
Including the Hungarian bakery, Lantmannen Unibake now has 86 bakery lines in 26 bakeries in 11 countries. It employs 4,000 people and has an annual turnover of Eur727m.
