Utrecht / NL. (fpe) Fortis N.V. said its private equity fund will buy together with management the two Dutch industrial bakeries J.M. Smithuis Pre Pain B.V. and Bakkerij J.M. Smithuis B.V. (both Oldenzaal) from Euroland Investments B.V. (Zenderen) for an undisclosed sum. The management buy-out is subject to approval from the Dutch competition authority NMA and is expected to close at the start of 2008. The bakeries have combined sales of about 50 million EUR per year.
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