The Luxembourg-based, family-owned company Moulins de Kleinbettingen has sold its entire share in United Bakeries to Penam, the number one Czech bakery group belonging to Agrofert Holding. The value of the transaction is confidential, but it is one of the largest transactions in the food industry in many years.
Baker McKenzie represented the seller in connection with the sale of United Bakeries, as well as relating financing changes and intragroup restructuring.
Prague-based partner Libor Basl led the team of lawyers advising on the transaction. The team further consisted of senior associate Lukáš Hron and associates Dušan Hlavatý and Slavomír Slávik.
United Bakeries is a leading bakery group in the Czech Republic with more than 1,000 employees working in 13 bakeries in various parts of the Czech Republic, most of its production capacity being located in Bohemia. In 2018, the company reported sales of CZK 2.2 billion.