French bakery products group Panavi has acquires Spanish frozen bakery manufacturer Ohayo. The financial details of the transaction were not disclosed.

Panavi said that the acquisition is in line with the company's international growth strategy.

"This strategy of international development is in the course of consolidation in other countries and should succeed soon, in particular in Germany and Italy," the company said in a statement.

In January, Panavi also bought a production site in Le Mans from rival Les Délices de la Tour, a CSM subsidiary.