Belgian biscuit maker Lotus Bakeries has acquired Spanish importer Lopez Market for an undisclosed sum.
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The Madrid-based company, which sells waffles, cakes, pastries and biscuits, has been Lotus’ major importer for several years.
A spokesperson for Lotus said: “Lotus Bakeries wants to use this acquisition to further intensify the growth of recent years in Spain.”
Under the terms of the sale, Lopez’s manager Angel Lopez, will assume responsibility of Lotus Bakeries’ Iberica sales office.
Lotus expect a 2008 turnover of almost EUR3m (US$4.4m) and an operating profit of some 5% of turnover.
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