Europastry solifies its stake in the United States with the acquisittion of a majority of Wenner Bakery shares
The Catalan company closed 2014 with sales of €429m, 7% more than the previous business year.
Barcelona, 11 May 2015. Europastry, the world's fifth-largest company in the frozen dough sector for bakeries, has acquired the majority of stock shares in the American company Wenner Bakery. Wenner Bakery produces value-added breads which, up to now, made up 30% of its stock. This transaction will permit Europastry to control the company's management, a business which currently has a stock turnover of $115m a year.
The Catalan family business thus solidifies its stake in the American market, a venture which began at the end of 2013 with its acquisition of Wenner Bakery capital. Currently, the American firm has two productive plants in New York. Under Europastry, Wenner Bakery began the construction of a third one, with the aim of meeting the growing demand of the American market. The plant, located in New Brunswick, recently became operational and during its first phase will create more than 250 new jobs.
Europastry's objective with this acquisition is to become a key operator in the rustic and value-added bread industry, a sector in which Wenner Bakery already has a market presence. Additionally, Europastry will make the most of the American company's business platform in order to spur the sales of different types of bakery products.
Internationalisation and Innovation The Catalan company considers internationalisation and innovation as the cornerstones of its business strategy. Besides the United States, Europastry currently maintains a presence in 40 markets and has also built plants in five countries. In addition, the company has invested in a new production centre in Oldenzaal in the Netherlands.
Foreign sales currently make up 23% of the company's total sales. Europastry closed the past business year with a stock turnover of €429m. This figure represents a 7% increase when compared to the €400m of the previous business year.
In terms of innovation, from its very beginnings the company has always been a pioneer in the market launch of products ranges, such as pre-cooked bread, pre-fermented bakery products, long-fermented rustic bread, or bakery products that are cooked and then frozen like dots and muffins. The company is also a pioneer in advancing nutritional improvements, like reducing the salt used in bread (for which it won the VII Premio Estrategia NAOS del Ministerio de Sanidad [VII Strategic NAOS Prize from the Ministry of Health]), eliminating trans fats in its bakery products, or in the development of "clean label" products that are 100% natural.