A Transformative Deal in the Bakery Sector (Image Credits: Unsplash)
Rennes, France – The Le Duff Group unveiled its biggest purchase ever on March 23, 2026, by acquiring Spain’s Panamar Bakery Group through subsidiary Bridor.[1][2] This deal catapults Bridor into the top spot for premium frozen bakery and Viennese pastry products worldwide. Panamar, a family-owned leader based in Valencia, brings robust production capabilities and a strong Iberian footprint to the table.
A Transformative Deal in the Bakery Sector
Le Duff described the transaction as its largest to date, though official financial details remain undisclosed.[2] Reports from outlets like Le Figaro and Les Echos pegged the value above €1 billion ($1.15 billion), underscoring the scale of this strategic pivot.[1][3] The agreement awaits standard regulatory approvals, with a roster of advisors including BNP Paribas, Crédit Agricole CIB, and Bird & Bird on the buyer side.
Panamar forecasts €600 million in turnover for 2026, supported by 2,600 employees across 11 factories.[2] The company specializes in frozen bread, pastries, and pâtisserie items under brands like Panamar, Cobopa, Pacfren, and Panusa. It distributes over 1,200 references to retail, hospitality, and foodservice clients while exporting to more than 20 countries.
| Key Metrics | Panamar (2026 est.) | Bridor (post-acquisition, 2026) |
|---|---|---|
| Turnover | €600m | €2.5bn |
| Employees | 2,600 | 7,600 |
Building a European Powerhouse
Bridor’s growth trajectory accelerated dramatically, with turnover climbing from €750 million in 2021 to a targeted €2.5 billion this year post-deal.[2] The acquisition fortifies its presence on the Iberian Peninsula, complementing earlier buys like Panidor in Portugal (2022) and Pandriks in the Netherlands (2024).[4]
Panamar’s integrated production and logistics network aligns seamlessly with Bridor’s premium focus. Together, they now command a vast portfolio serving 90,000 clients globally, from luxury hotels to top chefs like Pierre Hermé.[2] This union promises enhanced innovation in frozen bakery solutions.
Voices from the Top
Philippe Morin, Bridor’s CEO, highlighted the milestone: “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.”[1]
Panamar president Isabel Martinez echoed the optimism. “The sale is fully in line with Panamar’s ambitions for the future,” she stated, adding, “We are embarking on this new chapter with confidence.”[1] These comments reflect shared values in quality and expansion.
Ambitious Roadmap Ahead
Le Duff plans to double Bridor’s turnover by 2031 through relentless investment.[2] Recent moves include acquiring Laurent Bakery in Australia and New Zealand last year. Ongoing projects span continents:
- America: Doubled Montréal factory (2021), Lecoq Cuisine (Connecticut, 2022), expanded New Jersey (2025), new sites in Utah (2026) and Texas (2028).
- Europe: Panidor (2022), Pandriks (2024) with upgrades in Germany/Netherlands, new factories in Falaise (France, 2025) and Switzerland (2025).
- Asia-Pacific: Doubled Beijing facility (China, 2025).
These initiatives underscore a commitment to scaling industrial capacity worldwide. For more, see the Le Duff Group press release and Just Food coverage.[1]
This acquisition signals consolidation in the premium bakery arena, where demand for high-quality frozen products surges. Le Duff now stands poised for sustained dominance. What implications do you see for the global foodservice industry? Share your thoughts in the comments.
Key Takeaways
- Le Duff’s largest deal ever propels Bridor to world No. 1 in premium frozen bakery.
- Panamar adds €600m revenue, 2,600 staff, and 11 factories.
- Expansions target €5bn+ by 2031 across Europe, Americas, and Asia-Pacific.
