Spain: Panrico – donuts & sweet baking
The acquisition of Spanish donut specialist Panrico last month was a clear strategy move into sweet bakery, according to Mintel.
Grupo Bimbo announced the purchase of 100% of Panrico Shares in June, but the acquisition excluded Panrico’s branded packaged bread business.
Chris Brockman, research manager for Food & Drink at Mintel, said: “With the exclusion of the packaged bread business from the deal, this is all about donuts and sweet bakery snacks.”
Panrico holds the lion’s share of Spain’s sweet bakery market and manufacturers a number of well-known packaged brands, including ‘Donuts’.