PwC Legal Romanian affiliate D&B David si Baias has advised US-based investment fund Broadhurst on the sale of Romanian bakery group Vel Pitar to Mexico's Grupo Bimbo.
Broadhurst is an American investment fund managed by New Century Holdings (NCH Capital). NCH is a US-based investment group focusing on CEE agribusiness investments. It was set up in 1993.
Vel Pitar is a group active in the bakery and cereals sector in Romania, supplying goods to over 7,000 stores.
Bimbo is a Mexican international bakery group with almost 140,000 employees and USD 17.1 billion in revenue in 2021.
The D&B David si Baias team was led by Partner Sorin David.
Editor's Note: After this article was published, Nestor Nestor Diculescu Kingston Petersen announced it had advised Grupo Bimbo on the deal. The firm's team included Senior Partner Adriana Gaspar, Partners Corina Dumitru, Ioana Niculeasa, Roxana Ionescu, Roxana Abrasu, and Anca Diaconu, Managing Associate George Trandafir, and Senior Associate Claudia Lazar.
Subsequently, Reff & Associates announced it had advised Grupo Bimbo as well. The firm's team included Partner Florentina Munteanu, Senior Managing Associate Gabriela Ilie, and Senior Associate Irina Picos.