Europastry, the Spanish bakery business, has gained entry to the South American market after buying Chilean food group Crandon for an undisclosed sum.
The Spanish firm, based in Sant Cugat del Valles, near Barcelona, specialises in frozen bread and baked items while Santiago-based Crandon, with 40 years’ experience in the bakery industry, imports and distributes products, specialising in pastries and, to a lesser extent, bread.
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Europastry is a family-owned business founded in 1987. It distributes its products in more than 40 countries and has factories in Spain, Portugal, The Netherlands, Turkey and the US.
Its products are sold via supermarkets, cafes, hotels and restaurants. Its brands include Fripan, Frida, Yaya Maria, Friat and Dots.
Europastry’s new acquisition will be seen as providing a gateway to the Latin American market.
It is the second strategic transaction in three months for Europastry. In July, it acquired 60% of fellow Spanish food company Ingapan, which makes pies (empanadas) and rustic bread.
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By GlobalDataIngapan had previously distributed Europastry products to its customers and the companies had worked together at sites in Tenerife and Begonte.
