Spain-based snacks manufacturer Grupo Apex has acquired Papes Safor, which makes the Aitana brand of potato crisps, for an undisclosed sum.
Papes Safor, a family-owned business founded in 1992 and located in the province of Valencia, had a turnover of EUR5m (US$6.2m) in 2017. The company has a factory in Miramar situated in the district of Safor.
Aperitivos y Extrusionado, better known as Grupo Apex, makes a range of snacks, nuts and crisps under brand names such as Aspitos, Jojitos, Jumpers, Mooskys, Shiki-Shin, Puntazos, Vicente Vidal and MARINAS. It mainly markets its products in Spain through retailers, supermarkets and the ‘Horeca’ foodservice sector.
The acquisition of Papes Safor is part of Grupo Apex’s strategy to reach an annual turnover of EUR75m in 2018 from EUR65m last year, according to a statement. The firm is based in Ribaforada, Navarre.
Santiago Sala, the general manager of Grupo Apex, said: ”This acquisition, in addition to establishing commercial and purchasing synergies and improved logistics efficiency, will allow us to improve the ‘artisan’ quality of our crisps and continue to lead growth and concentration of the sector.”
He added: ”The purchase of this new company in the sector is part of the expansion policy that Grupo Apex is carrying out within Spain.
”We will continue to pay attention to the market in order to take advantage of new opportunities and incorporate companies into the group that allow us to maintain a sustained level of growth above that of the market.”