SPAIN: Bakery firm Europastry to float
Spanish bakery firm Europastry plans to float on the local bourse this autumn.
A Europastry spokesperson today (26 June) confirmed the plans but the company not say how much it hopes to raise in the listing, which would mark Spain's first food flotation in recent years.
The plan comes amid bullish financial markets in Spain where a slew of companies have listed in recent months.
Barcelona-based Europastry claims to controls 30% of the Spanish pastry market and hopes to deliver a 12% rise in sales to EUR300m (US$404m) this year. Europastry draws 15% of its turnover from international markets including the UK, France and the US.
Apart from its fresh bakery, Europastry makes frozen bakery goods for restaurants and third-party bakery producers under brands including Fripan and Frida.
Earlier this month, Europastry lost a trademark battle against rival Panrico over the Donuts trademark.
- Price an underlying tension across European FMCG
- Danone's Q3 sales - what the analysts say
- Interview: UK trade body on Brexit's policy impact
- Interview: UK trade body on the impact of Brexit
- It won't just be Unilever to push for Brexit hikes
- Nestle lowers outlook on "softer environment"
- UK announces "action plan" to drive food exports
- Kraft Heinz: Innovation more important than ever
- Online snack seller Graze makes US retail debut
- Abbott sees international nutrition sales fall
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Omega-3 in Food and Beverage:Time for a Reboot?
- Global Food Packaging: Innovating for Greater Convenience and Quality Image
- Packaged Food: Quarterly Statement Q3 2016
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review