Penam A.S.: buys Pekast bakery and Nobrs mill

Prague / CZ. (ctk / ua) Penam A.S., second largest Czech bakery group and subsidiary of the Czech Agrofert Holding, has acquired its rival Pekast spol. SRO and Nobrs SRO, producer of flour and other milling products – Penam CEO Jaroslav Kurcik said to local media at end-July. Penam has also sold its pasta-producing unit Tero Rosice SRO to Dutch company Europasta as it wants to specialise in the production of baker´s products and flour, said Kurcik. Europasta already owns leading Czech pasta makers Adriana and Bratri Zatkove.

With the purchase of Pekast SRO Penam´s share on the market for baker´s products grew from twelve to 15 percent in the Czech Republic. Penam wants to become number one on the Czech and Slovak markets for baker´s products. The current leader is United Bakeries A.S. which could control one-quarter of the markets, according to estimates. The company had earlier acquired Czech bakery Pekarna Klimentov.

In autumn last year, it launched into operation a new bakery near Prague which supplies goods to central Bohemia. The acquisition of Pekast will help Penam to cover the area of southern Bohemia, while the purchase of Nobrs should secure enough flour for Penam´s bakeries whose number should grow. According to Czech experts Penam has the advantage of controlling the entire production process as it owns farm cooperatives growing grain, grain warehouses, flour mills, bakeries and several shops thanks to parent company Agrofert.

The Penam group, employing more than 2’500 staff, owns 13 production facilities and four mills. It operates 39 own shops and supplies its products to most retail chains on the Czech market. Penam made an audited net profit worth 169,93 million CZK in 2007, a year-on-year growth of 77 million CZK. Sales rose by 333 million CZK to a record 2,97 billion CZK.