German food additives producer Dr. Oetker has acquired Romanian company Rimco SRL, the owner of pastry producer Panovia Prod, from the Lebanese Halawani family, Ziarul Financiar reported.

The Competition Council has already approved the transaction.

This is not the first business the Halawani family sells to Dr. Oetker. In 2016, Mounir Halawani sold the frozen pastry brand Morarita to Dr. Oetker.

Panovia Prod had a turnover of RON 33.5 mln (EUR 7.2 mln) in 2018, up by 14% compared to 2017, and 144 employees.

Dr. Oetker is the biggest player on the food additives market, with a turnover of RON 267 mln (EUR 57 mln) in 2018 and over 500 employees. The group has a factory in Romania, in Arges county.

Dr. Oetker buys Romanian pastry and dessert ingredients brand

(Photo: Pixabay)

editor@romania-insider.com