The suitors come forward for Bindi
Rumors: Vandemoortele, Pai and Investindustrial fund
It seems that the sale of the FDA Group, that is the Bindi-Forno d'Asolo Group, one of the main players in the pastry and frozen bakery sector, is coming to a close in October 2023, BC Partners put on the market after appointing the financial advisor Rothschild to start the operation. Now, according to rumors reported by Il Sole 24 Ore, some binding offers have arrived from potential buyers after that, during Christmas, some non-binding offers had arrived.
The group of suitors would become thin and now include two financial investors and a European multinational in the food and confectionery sector. As for the latter, it would be a name that has been around for a long time, namely the Belgian group Vandemoortele born in 1989 and specializing in frozen bakery products, margarine, cooking oils: . The two financial investors would be, instead, the international fund Pai and Investindustrial of Andrea Bonomi.
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.
EFA News - European Food Agency