Italy-based bakery business Gruppo Morato is looking to grow its business in Spain after buying a production plant there from Spanish cereal and biscuits manufacturer Cerealto-Siro.
The deal, which come hot on the heels of the bakery firm acquiring local peer Ro.Mar, is part of its plan for expansion in Europe, Gruppo Morato said.
Morato said it wants at least 50% of its turnover to come from abroad in the future.
Stefano Maza, CEO of the Morato Group, said: “The development of the Spanish business is one of our strategic priorities and represents a market with great potential, which we already engage in today as a supplier for some product categories.”
The plant it has bought, for an undisclosed sum, is in the north of Spain in Briviesca. It is 34,000 sq m in size and has ten production lines.
It can produce various types of bakery products.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData