Spanish food maker Adam Foods has reached an agreement to acquire certain Panrico assets in Spain, Portugal and Andorra from Mexican baker Grupo Bimbo. The agreement could see Adam Foods take control of Panrico’s bread business, including two production plants in Gulpilhares, Portuga, and Teror, Gran Canaria. Adam would also gain patents and licenses to market Panrico products in Italy, Germany… Read more »
GRUPO BIMBO TO ACQUIRE IBERIAN COMPANY PANRICO S.A.U. Transaction Will Exclude the Branded Packaged Bread Category
Grupo Bimbo S.A.B. de C.V. announced a preliminary agreement to acquire Panrico S.A.U. in Spain and Portugal. This acquisition includes 100 percent of the shares, excluding the branded packaged bread category. The transaction is conditional upon the result of due diligence, signing a final acquisition agreement, and the receipt of customary regulatory approvals. Grupo Bimbo is the largest baking Company… Read more »
The European Commission has cleared under the EU Merger Regulation the proposed acquisition of the Spanish supplier of the baking industry Panrico SAU by US based alternative investment manager Oaktree Capital. The Commission found that the transaction would not raise competition concerns because there are no overlaps between the parties´ activities.
Panrico, a Spanish-based food company with baking operations, has completed the integration of Artiach, a biscuit business acquired from Kraft Foods in July 2008.