Vel Pitar builds a RON 12 million bakery in southern Bucharest

Vel Pitar bakery, controlled by the Broadhurst investment fund, will build this year a new bread factory in southern part of Bucharest, after an RON 12 million investment.

The new factory will be specialized in products without chemicals and without preservatives, and the basis will be traditional recipes.

Vel Pitar, the biggest company in the bakery sector, finished last year with a turnover of RON 396.6 million, up 11 percent over the previous year. The company’s profit increased by 59 percent to RON 15.7 million.

In total, Vel Pitar’s investments this year reach 62 million lei.

Romania are one of the largest bread consumers in the EU, with 95 kilos of bread per capita annually, compared to 60 kilograms, EU average. The  market is estimated at EUR 1.8 billion, of which the value of domestic production is around EUR 1.1 billion.

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