Baker & Baker acquires Portuguese bakery Peipen
Source: Baker & Baker Sweet bakery manufacturer Baker & Baker has signed an agreement to buy Portuguese pastel de nata maker Peipen. The deal represents the first strategic acquisition by the company since splitting from CSM Bakery Solutions and launching as a standalone business in April 2021. Baker & Baker has acquired the order book, all equipment and machinery, and has assumed full responsibility for the personnel – entering into a long-term rental agreement with the original owners for the real estate and building. Based in Peniche, just to the north of Lisbon, Peipen has been a direct supplier to Baker & Baker for a number of years. The acquisition brings production in-house, facilitating further capacity for pastel de nata growth while providing space for expansion through the installation of additional sweet bakery lines, Baker & Baker said. The Peniche site employs around 60 people, and all employees have been transferred to Baker & Baker fro...