BÄCKEREI KAMPS acquired by ARGOS WITYU
Context
The transaction involves the acquisition of Bäckerei Kamps GmbH by Argos Wityu from the French conglomerate Le Duff Group. This acquisition is a pivotal step in Argos Wityu's overarching strategy to consolidate the German bakery market, following its 2024 acquisition of Bäckerei Schmidt and subsequent add-on deals in 2025. The integration of Kamps into the existing platform creates a powerhouse in the sector, operating over 400 branches nationwide. The rationale for the deal is rooted in achieving significant economies of scale, particularly in procurement, production, and logistics, while maintaining the strong local brand identities of the individual chains. By combining Kamps' extensive high-traffic retail network with the operational platform of Bäckerei Schmidt, Argos aims to build the leading bakery group in Germany. The group plans to drive further growth through both organic store expansion and continued opportunistic acquisitions in the fragmented German artisanal and industrial bakery landscape. This deal also marks the exit of Le Duff Group from the German retail bakery market, allowing them to refocus their portfolio while Kamps enters a new phase of independent, PE-backed consolidation.
BÄCKEREI KAMPS, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Retail & Consumer sector (11.0x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Bäckerei Kamps GmbH operates as one of the most recognized and established bakery chains in Germany, maintaining a significant retail presence through a dense network of branches. The business model focuses on high-traffic locations, including city centers, railway stations, and shopping malls, where it provides a wide variety of fresh bread, artisanal pastries, and convenience snacks. The company utilizes a hybrid operational model consisting of both company-owned stores and franchise partnerships, ensuring a scalable reach across the national market. Over the last decade, the firm has prioritized the modernization of its production processes and the refinement of its product portfolio to align with evolving consumer preferences for high quality, on-the-go food options. By controlling a vertically integrated supply chain from specialized production facilities to the point of sale, the company maintains consistent quality standards while optimizing logistical efficiency for daily fresh deliveries. Its brand equity is built on decades of presence in the German market, making it a cornerstone of the regional quick-service bakery landscape.
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Historical Financials (EUR)
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REFERENCES
Revenue range: 100M - 200M EUR
EBITDA range: 5M - 25M EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Acquirer: argos wityu