Agrofert, the Czech Republic’s largest food maker, has acquired United Bakeries, the largest bakery firm in the country.
Financial details have not been disclosed, although reports in the Czech Republic said Agrofert had agreed to pay CZK6bn (US$321.5m).
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However, Jaroslav Kurcík, director at Agrofert’s bakery arm Penam, told just-food the reports had over-estimated the amount the company had paid.
Kurcík said the acquisition would give Agrofert plants in the Czech region of Bohemia and facilities across the border in Slovakia.
The deal will enable Penam to operate its flour mills at almost full capacity and Agrofert could also benefit from synergies in purchasing costs, Kurcík added.
