Barilla sells off bakery division
Italian pasta company Barilla has put its German subsidiary Kamps Bakeries up for sale, six years after acquiring in a deal worth around E1.8bn.
Kamps comprises 900 mainly franchised craft bakery shops and five plant bakeries, employing over 1,200 people. Turnover in 2007 was E208m with a further E300m from sales through its stores. The decision to sell the business does not affect Barilla's Kamps Brot und Backwaren division, which manufactures retail brands such as Golden Toast and Lieken Urkorn, as well as private-label products.
"After achieving a successful turnaround over the last few years, Kamps Bakeries is a solid and growing company, which we expect to continue to grow both in sales and profitability," said Robert Singer, Barilla CEO. "However, managing shops is not a core activity for Barilla."
According to press reports, Barilla has asked 20 potential buyers to submit initial bids for the company within the next month.
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