Spain-based bakery-products supplier Europastry has become the sole shareholder in Ingapan, a local supplier to the foodservice sector.
Europastry has acquired the 40% it did not own in Ingapan from the Chousa family, which set up the company in 1959.
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The deal, struck for an undisclosed sum, gives Europastry 100% ownership of a business selling baked goods, patisserie products and ready meals to foodservice operators in Spain. Ingapan operates from five plants.
Europastry first invested in Ingapan in 2017, buying a 60% stake in the company, which is based in Lugo, a city in the north-west of the country.
In December, Europastry snapped up Portuguese “craft baker” Confeitaria Torres, which specialises in products such as the Portuguese cake Bolo Rei.
A month earlier, Europastry became the sole shareholder in Wenner Bakery, a US business in which it first invested in 2013.
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By GlobalDataFurther south, in September 2017, Europastry gained entry to the South American market after buying Chilean food group Crandon for an undisclosed sum.
