Adam Foods has reached an agreement with Bimbo over the acquisition of the Panrico brand in Spain, Portugal and Andorra.
The agreement will not only give Adam Foods Group control of the Panrico bread and pastry brand in Spain, Portugal and Andorra, but also the production patents and licences to sell similar products in Italy, Germany and France.
It also includes the acquisition of Panrico's production plants in Gulpilhares in the north of Portugal, and Teror in Gran Canaria, reports DistribuicaoHoje.com.
This transaction still needs authorisation from the relevant competition authorities, as well as a resolution from the Spanish Supreme Court. It is expected that the process will be completed during the second half of 2016.
Adam Foods is a Spanish business group specialising in biscuits, spreads, honey, pastries and concentrated broth. Last year, it saw estimated sales of €340 million.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.
