Italy's Barilla Sells German Bakery Chain
BERLIN (AP) -- Italian pasta maker Barilla has agreed to sell German bakery chain Kamps to a private equity fund and the company's management for an undisclosed sum.
Kamps said late Wednesday that the new majority owner will be a fund administered by ECM Equity Capital Management GmbH, based in Frankfurt. It said Kamps' management would hold a "significant" stake but didn't elaborate.
Barilla bought Kamps in 2002. It owned the baker via a fully-owned subsidiary, Lieken AG.
Kamps has some 900 outlets in Germany. It has 1,000 employees of its own and franchise partners employ more than 4,000 people.