Vel Pitar SA, Râmnicu Vâlcea

The registered office of the new company was established in Ramnicu Valcea. 2007 represented the road to a new kind of organization. The Vel Pitar S.A. Company was divided into three autonomous companies, each with a different focus: baking, S.C. Vel Pitar S.A.; milling, S.C. Sapte Spice S.A.; and retail, S.C. VP Magassin S.A. The three companies have developed continuously over the last three years, and each now qualifies as an autonomous operation. As a result of the division, the new companies maximize the market opportunities in their respective business sectors through better resource and cash management. The Vel Pitar Group now owns factories in Bucharest and in 10 other Romanian counties (Valcea, Arges, Brasov, Cluj, Galati, Iasi, Giurgiu, Gorj, Olt and Dambovita), mills, and a network of shops spread throughout large Romanian cities.The Vel Pitar Group is the leader of the Romanian bread market and an important player in the manufacture and distribution of biscuits, wafers, cake specialties, pastries and milled products. The story of the Vel Pitar Group began in 1999 when the investment fund Broadhurst Investments, Ltd., administered in Romania by New Century Holdings (NCH), purchased two large companies in the milling and bakery industry - Mopariv Ramnicu Valcea and Berceni Bucharest. In December 2001, S.C. Vel Pitar S.A. incorporated with the merger of four factories from the milling and bakery industry: Mopariv Ramnicu Valcea, Berceni Bucharest, Mopariv Cluj Napoca and Granpan Tecuci.