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04/2024100%

Pandriks acquired by Bridor

NETHERLANDS Food Processing / Food Products / Bakery / Pastry EV €300–700M

Context

Strengthening its leadership in the premium European bakery market, Bridor has completed the acquisition of the Dutch group Pandriks. This transaction is a key component of Groupe LE DUFF’s broader strategy to scale its industrial branch, which now nears the €3 billion annual revenue milestone. The strategic rationale for the deal is the immediate integration of specialized organic bread-making capabilities and two highly efficient manufacturing sites in the Netherlands and Germany. As part of the merger, BRIDOR has committed to finalizing a €75 million investment plan initiated by Pandriks to double its production volume over the next five years. This partnership is designed to blend Pandriks’ sourdough expertise with BRIDOR’s high-gastronomy heritage—supported by its long-standing collaboration with Maison Lenôtre and the Meilleurs Ouvriers de France (MOF). By securing this Northern European hub, BRIDOR enhances its ability to serve the "bake-at-home" retail segment and reinforces its commitment to the premiumization of the global frozen food industry.

Pandriks, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of [members only].

-> Deep-dive in AgriFood market trends

Target

Pandriks is a European baking specialist focused on organic products and artisanal-inspired bread. Founded in the Netherlands in 2012, the company has developed a premium range of baked goods crafted from simple recipes and long fermentation processes, prioritizing quality and natural ingredients. The group operates on an advanced industrial model, combining modern production technologies with an artisanal approach. With two manufacturing sites in the Netherlands and Germany, Pandriks is well-positioned to serve a broad customer base across Europe and internationally. Pandriks markets its products through two primary channels. On one hand, the company offers private-label products to major retailers. On the other hand, it has a branded range called SlooOW, targeting home baking and specialty retail. This dual strategy enables Pandriks to cater to both industrial and premium segments. As a key player in the organic and high-end bread market, the group benefits from the growing demand for high-quality ingredients and more natural production methods. Pandriks differentiates itself by its ability to produce on a large scale while replicating traditional baking techniques. With a presence in several Northwest European markets, Pandriks primarily serves distributors, foodservice operators, and hotel chains, offering tailored solutions for large accounts and international networks.

Ent. Value

€300–700M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2024
€100–200M
[members only]
[members only]
2023
€100–200M
[members only]
[members only]

Other operations with Bridor

Other operations with Bridor
DateAcquirerTargetCountrySector
03/2026BRIDORPANAMAR BAKERY GROUPSPAINBakery / Pastry
03/2025BRIDORLAURENT BAKERY GROUPAUSTRALIABakery / Pastry

Similar deals in Food Processing

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DateAcquirerTargetCountrySector
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04/2024CAMPARI GROUPCOURVOISIERFRANCEWines & Spirits
03/2024ARGOS WITYUROUTINFRANCEBeverages
03/2024CVCPARTNER IN PET FOOD (PPF)HUNGARYPetfood
03/2024CAMPBELL SOUP COMPANYSOVOS BRANDSUNITED STATESFood Products
02/2024INVESTINDUSTRIAL / SAMMONTANAFORNO D’ASOLOITALYBakery / Pastry
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12/2023THE FERRERO GROUPMICHEL ET AUGUSTINFRANCEFood Products

REFERENCES

Valuation range: EV €300–700M

Revenue range: €100–200M

EV/Revenue range: 1x - 3x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Pandriks by Bridor are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: pandriks

FAQ

What transaction does this page cover?

This page covers Bridor’s acquisition of 100% of Pandriks, a Dutch company specialised in Food Products, in 2024.

How was the acquisition of Pandriks by Bridor valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €300–700M band and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What was Pandriks’s revenue at the time of the deal?

At the time of the transaction, Pandriks’s annual revenue was estimated within the €100–200M range (FY 2024). Detailed financial figures are available to members.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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