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Vandemoortele wants Bindi

The Belgian group may be interested in the Milanese pastry for sale facebook sharing button

Last week the Bc Partners fund announced the start of the sale of Fda Group, a group active in the frozen bakery and pastry sector that combines Forno D'Asolo and Pasticceria Bindi. Today, according to rumors reported by the newspaper Il Sole 24 Ore, among those interested in taking the company there are some foreign multinationals including the Belgian group Vandemoortele, specializing in frozen baked goods, margarine, cooking oils and fats.

Vandemorteele is a Belgian multinational with 124 of history in Italy has an important presence with two headquarters, in Genoa and Agrate, and two factories, in Ravenna and Genoa. The company, according to rumors, would be studying the operation in alliance with a private equity fund". The transaction, however, would also affect large international funds: among the names that would be considering the agreement are Pai, Cinven, Bain Capital, KKR and CVC.

The operation would have a value around the billion of Euro for a group that has a turnover around 500 million Euro. If it goes to port, Bindi & co. are in the hands of a group that in 2022 recorded a turnover of 1.3 billion Euros. Vandemoortele has a presence in 20 countries and, in recent years, has focused on the professional segments of retail and foodservice. 

The Bindi Group is a historic company in the sector: founded after the war as a pastry shop in Milan, founded by the Tuscan restaurateur Attilio Bindi, it has grown over the years with the production and distribution of frozen industrial pastry in Italy. Today it boasts 25 thousand customers served in the horeca sector and about 40 foreign markets reached that generate 40% of revenues.

In 2020 Bc Partners took over the Bindi group for 200 million Euro and then integrated it with Forno d'Asolo, in turn taken over three years earlier by the 21 Invest fund of Alessandro Benetton with an estimate of around 300 million Euro.

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