CMS advises J&T Banka on acquisition financing for Buca Group's purchase of PAC Hořovice, creating the Czech Republic's second-largest bakery group
Please confirm you are human to start the audio.
CMS has advised J&T Banka on the financing of Buca Group's acquisition of PAC Hořovice, Pekárna-cukrárna Hořovice and Mlýn Čistá. The deal brings PAC Hořovice into the same group as Pekárna Srnín, an established South Bohemian bakery business. It is a major consolidation of the Czech bakery market, and industry commentators have called it the sector's largest transaction since Penam and United Bakeries combined.
PAC Hořovice has reported annual revenues of more than CZK 1.5bn in recent years and employs over 500 people. Each month it sells around 25m bakery and confectionery products from a range of 300. It runs three bakeries, a flour mill in Čistá near Rakovník and a chain of retail stores. Its customers are located in Central Bohemia, Prague, Plzeň and other regions.
The combined group brings together PAC Hořovice's bakery, confectionery and flour-milling operations with Pekárna Srnín's business. The Czech Competition Authority (ÚOHS) cleared the transaction in September 2026.
The CMS team was led by Petra Myšáková and included Lucia Luptáková (Corporate); and Andrea Haushalterová and Adam Fanta (Banking & Finance).
The transaction further demonstrates CMS’s experience in advising lenders on complex acquisition financings in the Czech food and beverage sector.
