“Iasi County will get a more than RON50 million investment through Vel Pitar. We are investing in technologies that will allow making products with a long shelf life, without E numbers and preservatives (…) Part of the money, RON11.2 million comes from EU funds, and the rest from Vel Pitar,” Vel Pitar chairman of the board Nicolae Serbanescu told ZF.
Vel Pitar is controlled by US private equity fund Broadhurst in turn managed by New Century Holdings (NCH).
Vel Pitar’s brands include Grau intreg, Chef Gourmand, Sylvester Graham, Maya, Doi Frati. It sells various types of bread, and other bakery and pastry products.
Vel Pitar was formed by the merger of four plants in the milling and bakery industry in 2001 – Mopariv (Valcea), Berceni (Bucharest), Granpan (Tecuci) and Panegrano (Cluj), the corporate website says. It later bought other companies in this business, so it now owns 12 plants in ten major cities of the country.
(English version by Loredana Fratila-Cristescu)