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May 12, 2015

Europastry takes majority stake in Wenner Bakery

Spanish frozen bakery firm Europastry has taken a majority shareholding in Wenner Bakery, the US firm in which it already owned a 30% stake.

Spanish frozen bakery firm Europastry has taken a majority shareholding in Wenner Bakery, the US firm in which it already owned a 30% stake.

Europastry first invested in Wenner Bakery in 2013. The Catalan company said the deal, struck for an undisclosed sum, will give it management control of the business.

Wenner produces value-added breads for retail and foodservice customers. The company has an annual turnover of US$115m and two plants in New York. It has recently opened a third in New Brunswick in New Jersey.

"The objective of this acquisition is [for] Europastry [to] become a key player in the segment of rustic and value-added specialty breads," the company said in a statement.

Europastry is looking to "internationalise" its business. Last year, the company generated 23% of its EUR429m (US$482.2m) sales outside Spain.

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