Size Does Matter

Many of the major challenges seen in the European frozen bakery industry can be met by increasing the scale of operations. However, autonomous growth in this segment, while attractive when compared to other food sectors, will likely not be sufficient to gain the scale required to meet these challenges. Rabobank believes that frozen bakery companies should seek scale through external growth. For companies whose prospects for growth through acquisitions are limited, there may be alternative strategies.

photo of biscuit production