Markel Ventures announced today that its portfolio company AMF Bakery Systems has completed the acquisition of Tromp Bakery Equipment, a supplier of baking equipment. “We are excited to join forces with Tromp,” stated Ken Newsome, president of AMF. “This strategic addition enables us to leverage our position as a global leader in high-speed bread and bun bakery systems and expand our offering into the growing specialty bakery sector,” said Bas Tromp, the company’s founder, who will continue as president.
Tromp Bakery Equipment designs and manufactures sheeting lines for pizza, pastry, pie and bread bakers worldwide. The company is based in Gorinchem, the Netherlands (www.tromp.nl).
AMF Bakery Systems is a leader in industrial baking systems, specializing in pan bread and bun manufacturing equipment. AMF has manufacturing plants in Richmond, VA; Atlanta, GA; Sherbrooke, Canada; and Tianjin, China with sales offices in Leeds, UK; Singapore and Beijing. The company was founded in 1916 and is based in Richmond, VA (www.amfbakery.com).
Markel Ventures is a subsidiary of Markel Corporation, a financial holding company with insurance, industrial, and service operations serving a variety of niche markets. Markel Ventures was established to acquire majority control of companies with revenues from $25 million to $250 million and EBITDAs from $5 million to $50 million. Sectors of interest include diversified manufacturing; service and value-added distribution; consumer and industrial products; capital equipment; and healthcare. The firm is based in Glen Allen, VA (www.markelcorp.com).
“As I thought about the future of my company, I wanted to find a partner with similar values who would continue to build on our previous accomplishments. AMF, with its affiliation with Markel, is very unique, and I think this organization will best serve our customers and the people who helped build this company,” said Mr. Tromp.