Adam Foods has reached an agreement with Bimbo over the acquisition of the Panrico brand in Spain, Portugal and Andorra.
The agreement will not only give Adam Foods Group control of the Panrico bread and pastry brand in Spain, Portugal and Andorra, but also the production patents and licences to sell similar products in Italy, Germany and France.
It also includes the acquisition of Panrico’s production plants in Gulpilhares in the north of Portugal, and Teror in Gran Canaria, reports DistribuicaoHoje.com.
This transaction still needs authorisation from the relevant competition authorities, as well as a resolution from the Spanish Supreme Court. It is expected that the process will be completed during the second half of 2016.
Adam Foods is a Spanish business group specialising in biscuits, spreads, honey, pastries and concentrated broth. Last year, it saw estimated sales of €340 million.
By Gabriela Guédez
Source: European Supermarket Magazine
The cakes and pastries market in China is estimated to have $3 billion in annual sales and is growing at a compound annual growth rate of 15%, according to Mondelez. The acquisition will build on the company’s strategy to expand its global presence in the category.
The Coca-Cola System in Nigeria, comprised of Coca-Cola Nigeria and its authorised bottler, Nigeria Bottling Company (NBC), have announced plans to expand its investments in Nigeria over the next five years. The investment is expected to support value chain areas, including suppliers, distributors, retailers and recyclers.
Diageo North America has acquired non-alcoholic spirits brand Ritual Zero Proof, as part of its strategy to capitalise on the growing demand for alcohol alternatives. Launched in 2019, Ritual has quickly established itself as the top non-alcoholic spirit brand in the US, reflecting a significant shift in consumer preferences toward healthier beverage options.
