Europastry expands in USA, by acquiring Wenner Bakery
Spanish frozen bakery company Europastry has acquired a majority share in US frozen bakery firm Wenner Bakery, which is active in both foodservice and retail, in order to expand into US territory.
Related Articles
Europastry already owns 30 per cent of Wenner Bakery, which it bought in 2013. The new transaction, signed recently for an undisclosed amount, will give Europastry management control of the business.
Wenner produces value-added breads for retail and foodservice customers. The company has an annual turnover of USD115m and two plants in New York. It has recently opened a third in New Brunswick in New Jersey.
“The objective of this acquisition is [for] Europastry [to] become a key player in the segment of rustic and value-added specialty breads,” the company said in a statement.
Europastry is looking to “internationalize” its business. Last year, the company generated 23 per cent of its EUR 429m sales outside Spain.