Spanish bakery firm Europastry plans to float on the local bourse this autumn.
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A Europastry spokesperson today (26 June) confirmed the plans but the company not say how much it hopes to raise in the listing, which would mark Spain’s first food flotation in recent years.
The plan comes amid bullish financial markets in Spain where a slew of companies have listed in recent months.
Barcelona-based Europastry claims to controls 30% of the Spanish pastry market and hopes to deliver a 12% rise in sales to EUR300m (US$404m) this year. Europastry draws 15% of its turnover from international markets including the UK, France and the US.
Apart from its fresh bakery, Europastry makes frozen bakery goods for restaurants and third-party bakery producers under brands including Fripan and Frida.
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By GlobalDataEarlier this month, Europastry lost a trademark battle against rival Panrico over the Donuts trademark.
