Vicky Foods agrees to buy sliced bread brand Panrico

Spanish radical Vicky Foods has signed an statement to get the bakery marque Panrico from section adjacent Adam Foods.

Financial presumption of the woody were not disclosed.

The family-owned institution said Panrico volition adhd “greater accumulation capableness successful a cardinal category, particularly successful the sliced breadstuff segment”.

Rafael Juan, Vicky Foods' CEO, said: “The acquisition of Panrico reinforces our individuality arsenic a institution with bakery roots. We are committed to increasing the breadstuff category, strengthening our brands, and continuing our planetary enlargement with a solid, semipermanent concern vision.”

The institution said breadstuff has go its biggest concern enactment by income measurement successful caller years, moving up of pastries since 2022.

It added that the integration of Panrico, which generated a turnover of much than €23.8m ($27.4m) crossed Spain and Portugal past year, “reinforces this evolution”.

Covering Spain and Portugal, the transaction includes the Panrico marque and its main concern asset: a accumulation tract successful Gulpilhares, Portugal.

The installation covers much than 50,000 quadrate metres, has 3 sliced-bread accumulation lines and an yearly capableness of 21,000 tonnes.

Vicky Foods presently operates 4 accumulation plants making adjacent to 2,500 products, located successful Gandía, Villalonga, Algeria and France.

The radical besides described the acquisition arsenic portion of its planetary maturation plans and a “significant” determination to fortify its concern footprint crossed the Iberian Peninsula.

It said bringing the Gulpilhares tract into its web volition deepen its presumption successful Portugal, summation operational capableness successful the portion and widen improvement imaginable successful “strategic” European markets.

Vicky Foods has a beingness successful much than 50 countries. Its brands see Dulcesol, Be Plus, and Hermanos Juan. The institution generated a turnover of €707m successful 2024.

For Adam Foods, the merchantability is successful enactment with its efforts to absorption connected biscuits, wherever it expanded successful 2023 with the acquisition of Dr. Gerard from the Bridgepoint concern fund.

José Manuel Faria, Adam Foods biscuits part wide manager, said the institution besides precocious bought Biscoland, on with a biscuits installation successful Casablanca, Morocco.

Faria added the merchantability of Panrico “responds to the tendency to find a spouse that guarantees the continuity of concern enactment and semipermanent employment astatine Panrico, and is portion of the group's planetary enlargement strategy focused connected the biscuit category".

"Vicky Foods agrees to bargain sliced breadstuff marque Panrico" was primitively created and published by Just Food, a GlobalData owned brand.