US: Unibake moves into US with Euro-Bake buy
Europe's largest frozen bakery group Lantmannen Unibake has established its first manufacturing facility in the US through the acquisition of Florida-based Euro-Bake.
The US is one of Unibake's largest and fastest growing markets, a spokesperson for the company told just-food today (25 April).
All Unibake products for the US are currently produced in Europe and then shipped to the US. The company said that the acquisition fulfilled its need for local production facilities.
However, Unibake expects the new capacity will be entirely used to meet growing demand.
"We will continue to ship products from Europe to the US," a spokesperson for said. "We expect capacity to be taken up with growth in the US. Last year, we saw growth of 25% and the company we just acquired saw growth of 35%. We expect to see continued strong demand for European baked goods, particularly our pastries."
Euro-Bake produces European-inspired bread products such as ciabatta buns, baguettes and focaccia bread. The company's business-to-business customer-base includes Disney, Arby's and Denny's.
The Euro-Bake acquisition comes only a few weeks after Lantmannen Unibake announced the purchase of BACO, a Finnish fast-food bakery. The addition of BACO to the group's portfolio is expected to help open the Baltic and Russian markets.
Unibake said that both acquisitions are part of its worldwide growth strategy. The company added that it is on the look out for further targets.
Unibake did not disclose the financial terms of the Euro-Bake acquisition.
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