Europastry agrees to acquire 60% of the Galician group Ingapan
Europastry has reached an agreement to acquire 60% of the Galician group Ingapan, a transaction that confirms the good distribution relationships both companies have maintained in recent years.
Europastry, the national leader and fifth worldwide player in the frozen dough industry, has reached an agreement to acquire 60% of the Galician group Ingapan, a transaction that confirms the good distribution relationships both companies have maintained in recent years. Ingapan is a highly recognised company in the segment of pies (empanadas) and rustic breads and already distributes Europastry products to its customers. In addition, the Galician company and Europastry have already worked together on the sites located in Tenerife and Begonte (Lugo).
The agreement reached between both companies highlights the continuity of Ingapan's current managers and all of its production staff, as well as the commitment to carry on working in line with what characterises all its brands, which is based on quality, innovation and competitiveness.
Ingapan’s turnover amounted to 66 million euros in 2016, whereas it features six branches in Spain and one in Miami. While operating in 19 countries, it boasts 250 product references and an in-house staff of 450 employees.
This shareholding integration (subject to the mandatory administrative approvals) will allow them to strengthen the group's innovation and internationalisation strategy, while fostering its continuous commitment to technology, in addition to expanding its product portfolio, which strengthens national and international distribution networks. This strengthens as well Europastry's commitment to continuous improvement, quality and ongoing innovation in new products.
This year also coincides with Europastry’s track record of 30 years, which started off with a small bakery in Sant Joan Despí (Barcelona) in 1987 and is currently operating in more than 40 countries. Moreover, in November 2016, Europastry opened CEREAL, an internationally pioneering bread and pastry R&D centre.