Panamar

What Panamar does

Panamar (legal name: Panamar Bakery Group) is a Spain-based industrial bakery founded in 2000 by Epifanio Martínez, headquartered in Albuixech, Spain, and employing approximately 2,600 people. The company manufactures and distributes pre-baked bread (pan precocido) and frozen pastries (bollería congelada) across an extensive product catalog organized under four wholly-owned sub-brands: Panamar, Cobopa, Panusa, and Pacfren. Its product range spans round loaves (hogazas), baguettes, family breads, sandwich and burger buns, croissants, napolitanas, puff pastries, hoops, Danish pastries, ensaimadas, empanadas, pizzas, paninis, sweet pastries, and a dedicated gluten-free line, offered in ready-to-bake, defrost-and-bake, and defrost-and-serve formats.

The company serves five primary professional customer segments: cafeterias and restaurants, bakeries, supermarkets and retail stores, hotels and accommodations, and catering/collectivity operators. Distribution is executed through direct enterprise sales teams and a dedicated B2B e-commerce catalog at panamarbakery.com, with the company exporting to over 20 countries via a dedicated international sales channel. Forecast turnover for the current year is €600M, making Panamar one of the largest frozen bakery suppliers in the Iberian peninsula.

On March 23, 2026, Panamar was acquired by France's Le Duff Group for reportedly over €1 billion, the largest transaction in Le Duff's history. The acquisition places Panamar within Le Duff's bakery division Bridor, with the strategic intent of building a global leader in bakery and Viennese pastry while expanding Le Duff's footprint in the Iberian peninsula. Prior to the acquisition, Panamar was family-owned.

Name

Panamar

Legal name

Panamar Bakery Group

Website

https://panamar.es

Company type

Private

Founded year

2000

Operating status

Acquired

Headcount range

1,001–5,000 employees

Short description

Panamar Bakery Group is a Spain-based industrial manufacturer of pre-baked bread and frozen pastries serving bakeries, restaurants, supermarkets, hotels, and caterers in over 20 countries. Founded in 2000 and acquired by Le Duff Group in 2026, it operates four sub-brands and forecasts €600M in revenue.

Ownership category

akta.pro rank

Product category

Commercial Bakery Products

NAICS

Bakeries and Tortilla Manufacturing (3118), Frozen Cakes, Pies, and Other Pastries Manufacturing (311813), Commercial Bakeries (311812)

SIC

Bakery Products (2050)

akta.pro primary industry

Refrigerated Dough & Batters (Biscuits, Cookie Dough, Pie Crust) (CRADACAI)

akta.pro secondary industries

Pastry, Cakes & Tortes Manufacturing (AFAKAAAB), Specialty Dietary Bakeries (Gluten-Free, Vegan, Allergen-Friendly) (THAFAFAI)

Keywords

• Frozen bakery products
• Pre-baked bread
• Frozen pastries
• B2B bakery supply
• Professional foodservice bakery

Headquarters

HQ city

Albuixech

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. B2B Bakery Product Sales: Panamar generates revenue through the manufacture and sale of bread and pastry products to retail and foodservice customers across more than 20 countries. The company is forecast to generate €600m turnover in the current year.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Panamar manufactures and distributes pre-baked bread (pan precocido) and frozen pastries (bollería congelada) for professional foodservice and retail customers across more than 20 countries. Its portfolio is organized under sub-brand catalogs (Panamar, Cobopa, Panusa, and Pacfren) covering loaves, baguettes, family breads, burger buns, croissants, napolitanas, puff pastries, hoopes, Danish pastries, ensaimadas, empanadas, pizzas, paninis, and sweet pastries in ready-to-bake, defrost-and-bake, and defrost-and-serve formats.

Product overview

Panamar operates as a bakery group offering a unified portfolio of frozen bread and pastry products organized under multiple sub-brands (Panamar, Cobopa, Panusa, and Pacfren). The company's core offerings center on pre-baked bread (pan precocido) and frozen pastries (bollería congelada), available in ready-to-bake, defrost-and-bake, and defrost-and-serve formats. Product categories include hogazas (round loaves), family breads, sandwiches/bocadillos, burger buns, croissants, napolitanas, puff pastries, hoopes, Danish pastries, ensaimadas, empanadas, pizzas, paninis, and sweet pastries, targeting professional segments including bakeries, hotels, restaurants, caterings, and supermarkets.

Differentiator

Problem solved

Functional benefit

Brands

• Cobopa: Sub-brand catalog for bread and pastry products
• Panusa
• Pacfren

Products and services

• Panamar brand pre-baked bread and frozen pastries Main brand offering a comprehensive catalog of pre-baked bread and frozen pastries, including loaves, baguettes, family breads, sandwiches, burger buns, croissants, napolitanas, puff pastries, hoopes, Danish pastries, ensaimadas, empanadas, pizzas, paninis, and sweet pastries for professional foodservice and retail customers.
• Cobopa sub-brand bread and pastry catalog Secondary brand catalog within the Panamar Bakery Group offering bread and pastry products targeted at professional bakery and foodservice buyers.
• Panusa sub-brand bread and pastry catalog Additional brand catalog offering bread and pastry products under the Panamar Bakery Group umbrella, targeted at professional bakery and foodservice buyers.
• Pacfren sub-brand bread and frozen pastry catalog Brand catalog within the Panamar Bakery Group specializing in bread and frozen pastry products for professional customers.

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Direct peers

• Bridor (Le Duff Group): Le Duff Group's bakery division focused on Viennese pastries, breads, and premium frozen bakery products across Europe and globally — now the parent platform into which Panamar is being integrated, with overlapping product and channel mix.
• La Lorraine Bakery Group: Belgian family-owned frozen and fresh bakery group producing breads, Viennoiserie, and patisserie for retail and foodservice across Europe — comparable scale, product range, and B2B motion.
• Délifrance: French-origin frozen bakery and Viennoiserie brand serving hotels, restaurants, cafés, and retail — overlapping product formats (croissants, pains au chocolat, breads) and direct foodservice customer profile.
• Vandemoortele: Belgian food group with significant frozen bakery operations (breads, Viennoiserie, pastries) distributed across European retail and foodservice — closely comparable product portfolio and customer verticals.
• Aryzta: Swiss-listed frozen bakery group serving retail and foodservice with breads, Viennoiserie, and sweet baked goods across Europe and North America — directly comparable as a multi-country frozen B2B bakery manufacturer.
• Europastry: Spanish-headquartered frozen bakery and viennoiserie manufacturer with multi-country distribution to retail and foodservice — directly overlapping with Panamar's Iberian base, frozen dough/pre-baked bread portfolio, and B2B customer verticals.

Broad incumbents

• Grupo Bimbo: Global bakery multinational with extensive bread, sweet baked goods, and foodservice offerings; while much larger and broader, it competes in the same B2B and retail bakery channels Panamar addresses.
• McCain Foods: Global frozen food manufacturer with adjacent frozen prepared categories (potato, appetizers, pizza, baked goods) — a broader incumbent competing with Panamar in retail and foodservice frozen bakery adjacencies.
• General Mills (Yoplait / frozen bakery adjacencies): Global packaged food company with frozen and shelf-stable baked goods and foodservice offerings — broader incumbent player participating in the same retail and foodservice bakery categories.

Regional players

• Harry-Brot: Germany's largest industrial bakery producing fresh and frozen breads, rolls, and baked goods for retail and foodservice — comparable industrial bakery model with primarily DACH geographic exposure.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCel6BvC9Lt8hcOzGoquYEXg
• Facebookfacebook.com/PanamarBakeryGroup
• LinkedInlinkedin.com/company/panamarbakerygroup
• Instagraminstagram.com/panamarbakerygroup

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Panamar