SPAIN: Panrico upbeat on sales of new Bollycao Dokyo
Spain's Panrico, maker of best-selling doughnut brand 'Donuts,' said yesterday (27 March) that it has invested EUR15m (US$19.99m) to double production of its newly launched Bollycao Dokyo, a new round-shaped, chocolate-filled pastry for kids.
A company spokeswoman said the product, launched in September, is selling very well and that it hopes to generate EUR30m in sales this year.
Bollycao Dokyo's inspiration comes from a pastry featured Japanese cat-cartoon show Doraemon, which has been a hit in Spain.
"The inauguration of these two production lines and Bollycao Dokyo's launch culminates a process in which we have made strong investments to modernise and automate our Madrid factory," Panrico's chief executive Joan Cornudella said in a statement. He added that Panrico hopes to launch new bakery products in the near future.
The expansion at Paracuellos, where Panrico makes the classic Bollycao and the Donuts range, will generate 50 jobs to boost its headcount to 400 workers. Panrico currently operates 11 factories in Spain.
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