Spanish cookie company Gullon is currently seeking acquisitions and hopes to double production levels by 2015 in a bid to boost sales at home and overseas.
The company confirmed its ambitious expansion drive during the inauguration of its new Gullon III factory in Palencia, Spain.
Go deeper with GlobalData
A spokesperson for the group said that the firm invested EUR80m (US$100.7m) to build the new site and expand another one to bolster output.
During the meeting, general manager Felix Gullon said the company will look at “any acquisition around the cookie universe that is a good match for us”. The company has EUR77.6m in its cash coffers, he added.
In 2010, Gullon hopes to deliver sales of EUR172m, up from EUR162m last year, as it focuses on developing its branded offering. On Tuesday, it unveiled a new children´s functional cookie brand called Dibus.
The spokesperson added that the group aims for international exports to account for 50% of sales in three years.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
