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29 Mar 2026

Bird & Bird Advises BRIDOR (Le Duff Group) on Major Acquisition of Spanish PANAMAR BAKERY

"Bird & Bird advised BRIDOR (Groupe Le Duff) on its acquisition of Spanish manufacturer and distributor PANAMAR BAKERY. Panamar, which exports over 1,200 SKUs to more than 20 countries under brands such as Panamar, Cobopa, Pacfren and Panusa, gives Bridor a stronger industrial and logistics footprint in the Iberian Peninsula and globally (operating in ~100 countries). The deal is the largest acquisition to date for Groupe Le Duff/Bridor and supports the group’s ambition to reach €3.5 billion in revenue across its bakery, prepared-food and restaurant businesses. Bird & Bird’s cross‑border team advised Bridor, which was also supported by EY (tax/structuring), Linklaters (regulatory) and Gibson Dunn (financing); Panamar was advised by Garrigues."

Law firms Bird & Bird (advising BRIDOR), EY (tax and structuring for BRIDOR), Linklaters (regulatory for BRIDOR), Gibson Dunn (financing for BRIDOR) and Garrigues (advising PANAMAR BAKERY) participated in the transaction. BRIDOR, a subsidiary of Groupe Le Duff and a global leader in premium frozen bakery and pastry products, acquired the Spanish manufacturer and distributor PANAMAR BAKERY Group. PANAMAR exports over 1,200 references to more than 20 countries under the Panamar, Cobopa, Pacfren and Panusa brands. The acquisition makes BRIDOR one of the world’s leading bakery and viennoiserie players, strengthens its industrial and logistical capacity—notably on the Iberian Peninsula—and is the largest acquisition to date for Groupe Le Duff and BRIDOR. With its bakery arm BRIDOR, prepared-meals business GOURMING, restaurant brands (Brioche Dorée, Del Arte, La Madeleine and franchises) and real estate interests, Groupe Le Duff now targets €3.5 billion in revenue. Named lawyers who participated (seniority and practice area as stated in the press release) - Bird & Bird (advising BRIDOR) - Carole Bodin — partner (Corporate, France) - Lourdes Ayala — partner (Corporate, Spain) - Antonio Ballesteros Matilla — counsel (Corporate, Spain) - Céline Sol — associate (Corporate, France) - Garrigues (advising PANAMAR BAKERY) - José Manuel Martin Garcia — partner - Alberto Guerra — partner - Ana Barandiarán — principal associate EY, Linklaters and Gibson Dunn also advised BRIDOR on tax & structuring, regulatory and financing matters respectively; no individual lawyers from those firms were named in the press release.
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