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Expanding bakery business through Germany plant

Pandriks, the successful Dutch bakery company has developed a unique, proprietary baking production process based on very slow dough rising and full automation. It enables the efficient produce of high-quality clean-label bakery products on an industrial scale. In doing so, it meets the market trend for healthier food, and is able to produce bread without any additives, E-numbers and accelerators.

Among its customers are well-known major retail chains, including Lidl, Edeka, Dirk, Jumbo and Deka. Throughout 2016, Pandriks operated at full capacity to meet surging demand, leading the company to examine ways to expand its overall production capabilities.

The opportunity came about through the potential purchase of a finished 'Pandriks concept' production plant and separate organic flour mill in Fulda, Germany. The plant’s additional capacity could resolve the production challenges faced by its Dutch plant.

The assignment

NIBC enabled Pandriks to acquire the German bakery in November 2016 by means of a single bank solution comprising senior and subordinated debt facilities. The financial partnership with Pandriks includes a mechanism that allows NIBC to share in the company’s future value creation.

Adding value

In a striking example of an innovative cross-border franchise deal for a fast-growing company, NIBC acted quickly and decisively to supplant the company’s house bank. The transaction was partly made possible thanks to NIBC’s long-term relationships with Pandriks’ shareholders

Delivering results

Having completed the transaction for the Fulda plant, Pandriks now has the means to substantially increase its sales in the coming years and further strengthen its bakery franchise.NIBC responded when it mattered the most and in a very flexible way. We look forward to a long-term partnership as we work to build on our business success and we move to the next level in our development. Pandriks.

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