A new transaction in the pastry market: Dr. Oetker takes over Panovia | Progresiv
Dr. Oetker, the largest player in the food additives market, took over Rimco, the company that owns the shares of the pastry producer Panovia Prod SA. The transaction has already received the approval of the Competition Council. 
Rimco is owned by the Halawani family, who is not at the first transaction on the local market. In 2016, Mounir Halawani sold the frozen pastry brand Morarita to Dr. Oetker.
"Following the analysis of this economic concentration, the Competition Council found that the notified operation does not raise significant obstacles to effective competition on the Romanian market or a substantial part of it and there are no serious doubts regarding its compatibility with a normal competitive environment", it is specified in the statement published by the competition authority.
Dr. Oetker Romania, part of the German group Oetker, entered the local market in 1998 by taking over the Regal Corporation and has a history of over 120 years internationally. The company has around 400 products in the categories of ingredients for cakes, powdered desserts, pizza & frozen snacks, preservatives for vegetables and fruits, etc. Dr. Oetker reported on the local market, for the financial year 2018, a turnover of 267 million lei and a profit of 23.7 million lei.
Panovia reported a turnover of 33.47 million lei in 2018, a profit of 0.7 million lei.
