Goldman Sachs Merchant Banking Division and Silverfern today announced the intended acquisition of Continental Bakeries from NPM Capital.
Continental Bakeries is a leading European bakery group specialized in the production of private label biscuits, bread replacements and toasts.
“We are delighted to welcome Goldman Sachs Merchant Banking Division and Silverfern as our new shareholders. With the strong support of our new shareholders we are uniquely positioned to accelerate our growth plan and expand our footprint delivering our strategic plan. I look forward to working closely with them as we continue to expand this great business further in its current home markets and beyond,” says Ruud van Henten, CEO of Continental Bakeries.
“Together with the management team and the successful execution of five add-on acquisitions we have transformed Continental Bakeries into a leading private label European Bakery goods platform focused on biscuits, bread replacements and toasts with significant scale in its market segments and a truly European customer base. We would like to thank the whole management team for the exceptional contribution during our ownership,” says Johan Terpstra, Investment Director at NPM Capital.
“We are impressed by the quality and the strength of the platform that the management team and employees have built with Continental Bakeries,” says Mike Ebeling, Managing Director in the Goldman Sachs Merchant Banking Division. “We see significant potential for Continental Bakeries to accelerate its growth path and to act as a consolidator of the fragmented European baked goods industry. We are excited to be supporting the company’s growth ambitions both organically and through acquisitions.”
Final agreement on the transaction is expected shortly after completion of the applicable employee consultation procedures and closing of the transaction will be subject to customary regulatory clearances. William Blair acted as exclusive financial advisor to NPM Capital and OXEYE Advisors as exclusive financial advisor to the Goldman Sachs Merchant Banking Division and Silverfern. Nielen Schuman acted as debt arranger.
Source: Continental Bakeries
Consumer behaviors and preferences are evolving rapidly. With macro shifts in society, inflation and food supply challenges set to profoundly influence how people consume food and beverages, Givaudan is exploring what the world of dairy alternatives will look like in the coming decade.
After nearly three decades with AFI, Andersen is leaving to pursue a different career path “to work on diverse projects and explore opportunities to serve as board member”. Serving as CEO since 2010, Andersen joined AFI in 1994, initially overseeing applications and R&D. Over the years, he has maintained a strong focus on the whey business.
The Kraft Heinz Company has introduced five new members to its executive leadership team, who will collaborate with Carlos Abrams-Rivera upon assuming the CEO role in 2024. Pedro Navio will assume the position of North America president at the beginning of next year. In addition, Willem Brandt, Bruno Keller, Cory Onell and Diana Frost will join Abrams-Rivera and Navio on the executive leadership team.
