A Taste of Wellness for Savoury and Snacks
Givaudan
Panrico is a manufacturer and wholesale distributor of bread, pastries and biscuits in Spain and Portugal.
The deal was said not to raise any competition concerns as the parties activities were markedly different.
Initial concerns were raised about the vertical relationship between one of Oaktree’s portfolio companies: flexible packaging firm Nordenia, and Panrico’s bakery products.
However, Nordenia was found to have a low market share in flexible packaging for the bakery industry and it was decided that the transaction would significantly impede effective competition in the European Economic Area (EEA).