3i Group-backed European Bakery Group completed the acquisition of Panelto Foods.

3i Group-backed European Bakery Group, a pan-European bakery platform specialised in bake-off bread and snack products, completed the acquisition of Panelto Foods, an Irish bakery group specialised in bake-off artisan breads. Financial terms were not disclosed. “We are delighted to be joining European Bakery Group. Together, we will be able to reach new markets, capitalise further on the growth opportunities within the UK, Ireland and Europe and benefit from the size and scale of the combined platform," Brian O’Grady, Panelto Foods CEO.