Lantmännen Unibake acquires Hungarian bakery
June 25, 2010
by Eric Schroeder
STOCKHOLM, SWEDEN — Lantmännen Unibake, a global bread and baked foods supplier, has continued its global expansion by acquiring a fast-food bakery from Hungarian milling and baking group Elso Pesti. Financial terms of the transaction, which is expected to boost Lantmännen Unibake’s presence in Central Europe, were not disclosed.
“We believe that building on existing knowledge is essential for our future growth,” said Bent Pultz Larsen, chief executive officer of Lantmännen Unibake. “Therefore, we are proud to announce the acquisition of a new bakery in Hungary, a very important step in our expansion in the Central European region. 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 setup for matching our customers’ needs and demands for the future.”
The addition of the Hungarian bakery marks Lantmännen Unibake’s fifth major investment in the past two years. Earlier, the company acquired bakeries in Finland, the United States and the United Kingdom.
Owned by Swedish farmers through the Lantmännen group, Lantmännen Unibake operates 86 bakery lines in 26 bakeries in Hungary, Denmark, Sweden, Norway, Finland, Poland, Belgium, Germany, Russia, United Kingdom and the United States. The company’s U.S. site is in Lisle, Ill.
The company’s brand portfolio consists of: Hatting, Schulstad, Schulstad Bake Off, Schulstad Royal Danish Pastry, Pastridor, Korvbrödsbagarn, Paaskebrod and Skoga.