German food group Dr. Oetker has acquired Rimco SRL, the owner of pastry producer Panovia Prod, from the Lebanese Halawani family, Magazinul Progesiv has reported. The deal was cleared by the local competition authority.
Panovia supplies patisserie products to retail and foodservice channels. Retail consumers include Carrefour, Auchan, Metro and Billa. The company had a turnover of approximately EUR7.2m in 2018, up by 14% compared to 2017, and a total of 144 employees.
This is not the first business sold by the Halawani family to Dr. Oetker. In 2016, they unloaded the frozen pastry brand Morarita to the German group.
Dr. Oetker’s Romanian subsidiary manufacturers pizza, frozen snacks, cake ingredients, dessert powders and preservatives for vegetables and fruits.