Grupo Apex, the Spain-based snacks business, has snapped up local crisp maker Santo Reino for an undisclosed sum.
Navarra-headquartered Grupo Apex – behind brands including Aspitos, Jumpers and Popitas – said the deal, the latest in a string of acquisitions in recent years, fits in with its “exponential growth strategy”.
It also adds an eighth factory to its roster and its first in the Andalucia region. Santo Reino manufactures chips, salty snacks and nuts under its namesake brand.
Grupo Apex said the purchase brings into its orbit a “highly recognised brand and a talented work team, led by the Gutiérrez family, dedicated to the manufacture and distribution of traditional chips, snacks and dried fruits of the highest quality”.
It said the acquisition will allow it to increase its production capacity, to continue taking advantage of market opportunities and increase the coverage of the group throughout the country.
Santiago Sala, Grupo Apex’s CEO, said: “Our goal continues to be to double all our figures every four years, leading the growth and value creation of the sector.”
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Suggesting further deals to come, he added: “We will remain attentive to the market to incorporate brands or businesses into the group that allow us to grow and that generate commercial, productive, logistical or business synergies.”
Grupo Apex, which has an annual turnover exceeding €135m ($147.4m), employs around 600 people at its multiple sites.
Two months earlier, it had snapped up local vegetable crisps business Viube Foods.