Linklaters advises Le Duff Group on the acquisition of Panamar Bakery Group

Linklaters advises Le Duff Group, a global player in the food industry, on the signing of an agreement for the acquisition of the Spanish group Panamar Bakery Group, a manufacturer and distributor of frozen bakery products. With a turnover of €600 million in 2026 and 2,600 employees, this transaction is the largest acquisition to date by Le Duff Group and its subsidiary Bridor.

The acquisition will enable Bridor, a global specialist in premium frozen bakery products, to strengthen its industrial and logistics footprint in the 100 countries in which it operates and forms part of its global investment plan, which is expected to increase its turnover to €2.5 billion in 2026, with the objective of doubling this figure by 2031.

This development plan has resulted since 2021 in notably: in the Americas, the expansion of the Bridor plant in Montréal, the acquisition of Lecoq Cuisine in Connecticut, the expansion of the Vineland plant in New Jersey and the construction of new plants in Salt Lake City (Utah) and Texas; in Europe, the acquisitions of Panidor (Portugal) and Pandriks (Netherlands), the expansion of the Fulda (Germany) and Meppel (Netherlands) plants, the construction of a new plant in Falaise (France) and of a speciality products plant in Switzerland; and in Asia-Pacific, the acquisition of Laurent Bakery (Australia and New Zealand) and the expansion of the Beijing plant.

Linklaters advises Le Duff Group on all regulatory aspects of the transaction, including merger control and foreign subsidies control. The Linklaters team is led from Paris by Thomas Elkins, Partner, with associates, Axelle Binet and Victoria Vickers in the Antitrust & Foreign Investment practice.