Longford-based Panelto Foods acquired by private equity backed European Bakery Group

The privately-owned Irish bakery company will be folded into a new European-wide company that owns other bakeries in Germany and the Netherlands

Panelto Foods: chief executive Brian O’Grady (right) said the deal would help the firm ‘capitalise further on the growth opportunities within the UK, Ireland and Europe’. Picture: Maxwells

Panelto Foods, the Longford-based bakery company, has been acquired by 3i Group, a British private equity firm, for an undisclosed sum.

As part of the deal, Panelto will be folded into a much larger bakery company owned by the British investment firm called European Bakery Group, which was formed in May 2023 when 3i Group acquired and merged two businesses located in the Netherlands and Germany.

Panelto’s addition to the new business will expand European ...