The Vel Pitar group, one of the first producers on the bakery market, has inscribed for nine months this year an increase of the financial results with about 40% in contrast with the same period of the previous year against the investments made during this year, of over €25 million.

The Vel Pitar group, one of the first producers on the bakery market, has inscribed for nine months this year an increase of the financial results with about 40% in contrast with the same period of the previous year against the investments made during this year, of over €25 million.

 

"In the first nine months of the year 2007, against the efforts made because of the divisions and reorganizations, the Vel Pitar group nevertheless succeeded a signifying intensification of the activity, the turnover rising with almost 40% comparative to last year. The rise is due to the investments made in new technologies, research, marketing, logistic, retail and milling", the chairman of the Vel Pitar Administration Council, Dan Trifu, declared.

Thus, after Vel Pitar ended last year with a turnover of € 82, 2 million the companies within the milling and bakery group could inscribe at the end of 2007 a turnover of at least 154 million dollar, namely €107 million, according to the rising rhythm forecasted by the company.  

"The greatest sales of this period were inscribed at the packed bakery products, special types of bread and mini cakes", Trifu specified.

Even if the increase inscribed by the company is considerable comparative to the same period of the previous year if this rising rhythm is kept up until the end of this year, the results the company will get will be under the initial estimations.

"The companies' turnover within the milling and bakery group keeps the upward trend forecasted at the beginning of 2007. Obviously the increase will be considerable, even if we might not reach the ambitious aim of 52%, established at the beginning of the year, due to the marked price instability  concerning wheat and to the recrudescence of the black market  in our activity sector", the company representative declared.

The bakery producer manages 12 bread factories in ten districts in the country and Bucharest and seven mills. The company also owns a network of over 170 own stores, namely about 10.000 square meters retail space, and has a national distribution for the packed products (bread, biscuits, wafers and pastas). From the 170 units, 151 stores were modernized in the past three years.

Vel Pitar split up in the first part of this year into ten distinct societies. After this division was made, two distinct companies were founded,  having activities in milling industry, Sapte Spice and Rahova Mill, the VP Magassin store division, while Vel Pitar remained with the bakery business, biscuits, pastas, mini cakes, but also with these products' distribution.

 

Vel Pitar is owned by the Broadhurst investment fund, which applied to more societies that it owned, the strategy being that of taking out the assets that have nothing to do with the main activity object outside the companies. The Broadhurst investment fund is managed by the New Century Holdings Company (NCH), which has a share of about 80% of all the ten societies resulted after the division.

We find out from an official statement of the electronic financial newspaper www.SMARTfinancial.ro that Brasov Vel Pitar rewarded its business partners within the "Grace Prizes from Vel Pitar!" campaign, organized during May the 10th - July the 10th 2007.

We find out from an official statement of the electronic financial newspaper www.SMARTfinancial.ro that Vel Pitar rewarded its business partners within the "Grace Prizes from Vel Pitar!" campaign, organized during May the 10^th - July the 10^th 2007. The campaign included the organization of a tombola with prizes of 6 000 RON, offered to the economic agents from Braşov, Covasna and Prahova districts, which commercializes Vel Pitar products.

 

 The campaign addressed to all the Vel Pitar clients (except for VP Magassin, the budgetary societies, hypermarkets and cash & carry locations) which sell different types of Vel Pitar white loaf: 500 grams white loaf, 500 grams sliced white loaf, 700 grams white loaf and 700 grams sliced white loaf.  

The unique criterion of selection consisted in realizing by the economic agents of a daily volume of sales of at least 40 kilos (small stores, grocery stores) and respectively 100 kilos (supermarkets) of the Vel Pitar products, present at the promotion. The drawing out of the winning talons was validated by a committee made up of the Finance Ministry representatives, of the Vel Pitar Group, mass-media and notary public.

"This campaign allows us to continue with a Vel Pitar tradition, namely that of rewarding the faithful customers, what a correct business partner appreciates and respects at the same time", Vel Pitar Brasov marketing responsible, Cristina Popescu, declared.

 
The big prize was won by the Bachus SA representatives from Săcele, who will enjoy a trip for two persons in the Parelia Katerini spa, in Greece. Other 36 prizes including electronics were drown out: apparatus for delivering conditioned air, five micro ovens, ten coffee pots and twenty toasters, which were offered to the Vel Pitar customers from Predeal, Sinaia, Busteni, Zărnesti, Rasnov, Moeciu, Sacele and Brasov. "We are always taking into account first and foremost the way we connect to people, either they are customers, consumers or own employees", Cristina Popescu declared.

Vel Pitar will merge with Libertatea Panificaţie in Bucharest, the two societies having the same activity object, namely production and commercialization of bakery products.

Vel Pitar will merge with Libertatea Panificaţie in Bucharest, the two societies having the same activity object, namely production and commercialization of bakery products.  

Vel Pitar will be the absorbing society, and Libertatea Panificaţie will be the absorbed one. Both societies have the same majority shareholder, the Broadhurst Investments Ltd investment fund.

 

According to an evaluation report of the fusion's consequences, it will result in an improvement of the processes, the costs' reducing and the economic efficiency increase   of the two commercial societies.

 

Vel Pitar owns 11 bakery factories, 7 mills and over 174 stores placed in 10 towns, offering to the customers bakery products, milling products, sweet and pastry specialties, biscuits, pastes and wafers. In 2006, Vel Pitar inscribed a turnover of about 260 million RON.

 

Libertatea Panificaţie had in 2005 a turnover of over 25 million RON, being a manufacturer in the Breadstuff & Bakery & Mills & Pastry section of the Alimentation domain.

Vel Pitar, one of the greatest bakery producers on the local market, will invest over €25 million both in the acquisition of production tools and in retail segments, logistic and administration this year.

Vel Pitar, one of the greatest bakery producers on the local market, will invest over €25 million both in the acquisition of production tools and in retail segments, logistic and administration this year.

"The investment plans of the three companies (Sapte Spice, Vel Pitar and VP Magassin ) include projects of over €25 million, excepting the possible acquisitions of new companies. The investments included in the yearly budgets restricts to the technological ones, from logistic, retail and administration, not including the marketing or research activities", Dan Trifu, Vel Pitar strategy chairman, declared.

According to Trifu, the investments in marketing will be intensified this year, the main promoted products being both the brands of mini cakes marketed last year, Roll4Ever and Alma Dolce, and another prebaked bakery products category, French Rolls, and the brand of packed bread, French Toast.

"The properly promotion activity, both of the company and of its assets, will benefit by a budget of about €3 million", Trifu said.

Concerning these investments, the Vel Pitar representatives forecast for this year inscribing an increase of about 25% of the turnover accumulated on the group's three companies (Sapte Spice, Vel Pitar and VP Magassin) comparative to 2006. "The accumulated turnover of the group's three companies  will rise with about 25% in contrast with 2006, but there can appear considerable digressions because of the very restless period  the main raw material market goes over, namely the wheat", Vel Pitar strategy chairman declared..

 

According to the  Vel Pitar information, the companies within the milling and bakery group inscribed last year an accumulated turnover  of 110,6 million dollar (almost € 82,2 million), what means that  according to the forecasted increase rhythm , the Vel Pitar businesses could reach this year at 138,2 million dollar, passing the threshold of €100 million.

The producer manages 12 bread factories in ten districts in the country and Bucharest and seven mills. The company also owns a network of 170 own stores, namely about 10.000 square metres retail space, and has a national distribution for the packed products (bread, biscuits, wafers and pastas). Of the 170 units, 151 stores have been modernized in the last three years.

 
Vel Pitar has split up in the first part of this year into ten distinct societies. After this division was made, two distinct companies were founded,  having activities in milling industry, Sapte Spice and Rahova Mill, the VP Magassin store division, while Vel Pitar remained with the bakery business, biscuits, pastas, mini cakes, but also with these products' distribution.

Vel Pitar is owned by the Broadhurst investment fund, which applied to more societies that it owned, the strategy being that of taking out the assets that have nothing to do with the main activity object outside the companies.

 

The Broadhurst investment fund is managed by the New Century Holdings Company (NCH), which has a share of about 80% of all the ten societies resulted after the division. .

 

 Vel Pitar in numbers

 

- 7 productive mills

- 12 units of the bread manufacturing in ten districts of the country and Bucharest

- €25 million for this year investments

- 25% forecasted increase of the turnover for the year 2007

- 151 units of the total amount of the stores were modernized in the past three years

- 170 own stores, namely 10.000 square meters of area owned in retail

- It produces 450 tons/day in mills, 300 tons/day of bread, 20 tons/day of biscuits and 2, 5 tons/day of mini cakes.

 

Through the Vel Pitar "Doors open to the future " educational programme, the children in the entire country had the possibility of seeing how the bread is manufactured, how a factory works and looks like and find out which are the conditions a "baker" has to respect so that what we eat should be healthy and nourishing.

Through the Vel Pitar "Doors open to the future " educational programme, the children in the entire country had the possibility of seeing how the bread is manufactured, how a factory works and looks like and find out which are the conditions a "baker" has to respect so that what we eat should be healthy and nourishing. The most gifted of them also drawn for showing the organizers how they "see" the Vel Pitar bread, being organized a placard contest, too.  The pupils from the school no 22 in Brasov occupied the first place, those of the School no 13 -the second place, and those of the School no 30- the third place. Their drawings will be exhibited in the Vel Pitar stores.

The society shareholders decided that the Vel Pitar milling and bakery company from Ramnicu-Valcea should split up in ten distinct societies, activity followed by its social capital reducing with 2, 9 million lei, to 4, 1 million lei, and change its name into Sapte Spice.

The society shareholders decided that the Vel Pitar milling and bakery company from Ramnicu-Valcea should split up in ten distinct societies, activity followed by its social capital reducing with 2, 9 million lei, to 4, 1 million lei, and change its name into Sapte Spice.  
As a consequence of the division, the main activities of the companies, respectively the milling, bakery and trade will work separately. The societies resulted after the division are: Sapte Spice, Vel Pitar, Moara Rahova, VP Magassin, VP Imobbili, Brassai COM, Borcea Park, Realty, Moara de Foc and Targul din Vale.

Vel Pitar is one of the most important producers on the bakery market, distribution of the sweet and pastry specialties, biscuits, wafers and pastes.  The store network of the firm includes almost 170 locations.  

 Vel Pitar is controlled of the American investment fund, Broadhurst Investments Limited, managed by New Century Holdings.

Milling and bakery company Vel Pitar Ramnicu-Valcea will invest €2, 5 million for the modernization of the mill in Iaşi, the funds being assured of own sources.

Milling and bakery company Vel Pitar Ramnicu-Valcea will invest €2, 5 million for the modernization of the mill in Iaşi, the funds being assured of own sources.

The company has already modernized the mill in Valcea, after an investment of €4 million. The majority shareholder of Vel Pitar is the American investment fund,  Broadhurst Investments Limited, managed in Romania by New Century Holdings.
In the first nine months of the last year, the company inscribed a turnover of €52, 8 million and earnings of €827.000.

Milling and bakery company Vel Pitar Ramnicu-Valcea will invest €2, 5 million for the Iaşi mill's modernization, the financial resources being constituted of own sources, according to the official statement of the company's representatives.

Milling and bakery company Vel Pitar Ramnicu-Valcea will invest €2, 5 million for the Iaşi mill's modernization, the financial resources being constituted of own sources, according to the official statement of the company's representatives. Vel Pitar closed the modernization of the mill in Valcea, the total amount of the investments made with it rising at € 4 million. The investment made at Iaşi also has a laboratory of improving the flour and it will be able to process about 250 tons wheat/day. From the total investment, about €300.000 represents the necessary sum for obtaining a certificate concerning the management system of alimentary security. The company has subsidiaries at Ramnicu Valcea, Bucharest, Piteşti, Cluj-Napoca, Targu-Jiu, Tecuci, Giurgiu, Braşov and Iaşi, as well more working points in Olt and Damboviţa. The company's manager wants the society's division on the main activity branches, which are represented by the bakery, milling and retail. Vel Pitar is controlled by the American investment fund, Broadhurst Investments Limited, managed by New Century Holdings.

The milling and bakery company Vel Pitar Ramnicu-Valcea, one of the first three bakery producers, purchased the largest bread producer in Dambovita district, the Spicul de Aur Prodcom Company, which produces 20 tons of bread daily.

The milling and bakery company Vel Pitar Ramnicu-Valcea, one of the first three bakery producers, purchased the largest bread producer in Dambovita district, the Spicul de Aur Prodcom Company, which produces 20 tons of bread daily.  

 
Thus Dambovita becomes the tenth district where Vel Pitar carries on its activity, excepting the market in Bucharest. The company also owns bread factories in Valcea, Arges, Iasi, Brasov, Gorj, Olt, Cluj, Galati and Giurgiu.

 

"We made this acquisition because the potential of the area is great, the location in Targoviste following to become one with a very good evolution next period", Vel Pitar development manager Dan Trifu, declared.

According to the company's information the investments made represent €1 million and takes part in the company's strategy, of extension on the most attractive markets. The factory in Targoviste works with two automatic lines, the third one following to work in a month's time. Thus, the daily production capacity could exceed by 30 tons next period. The actual capacity of the Vel Pitar factories exceeds by 10.000 tons of bakery products monthly.

The purchased company has 200 employees. Spicul de Aur Prodcom inscribed in 2005 a turnover of €1, 2 million and a net profit of €70.000, according to the data given by the Finance Ministry. The company was owned by Elias Demirel Arifovici.

Vel Pitar is one of the best active bakery producers. Last year, the company participated on an auction together with one of the competitors, Boromir Ind from Ramnicu Valcea. After this auction the Boromir group purchased for €1, 2 million the milling and bakery society from Ialomiţa.

 

Vel Pitar inscribed in the first nine months of last year  a growth of 12% of the turnover, until €185 52,8 million in contrast with the same period of last year. During January-September 2006 the company inscribed a growth of 11,5% of the profit, until about €830.000. The company's representatives forecasted that the rise tendency would be kept until the end of the year. The Vel Pitar representatives announced last year a project of dividing the company in order to separate the store network and the milling units by the bread factories.

 

Vel Pitar will found two distinct societies that will manage the milling activity, respectively the stores division, while Vel Pitar remains only with bakery business.

According to the Vel Pitar representatives this decision aims at changing some Vel Pitar divisions into profitable independent units. Over 65% of the Vel Pitar turnover came from the bakery activity, the rest of it being distributed equally between milling and retail.  

 

Vel Pitar is owned by the Broadhurst investment fund, which applied to many of the societies that it owned, the strategy being that of taking out the assets that have nothing to do with the main activity object outside the companies.