Spain-based bakery-products supplier Europastry has become the sole shareholder in Ingapan, a local supplier to the foodservice sector.
Europastry has acquired the 40% it did not own in Ingapan from the Chousa family, which set up the company in 1959.
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The deal, struck for an undisclosed sum, gives Europastry 100% ownership of a business selling baked goods, patisserie products and ready meals to foodservice operators in Spain. Ingapan operates from five plants.
Europastry first invested in Ingapan in 2017, buying a 60% stake in the company, which is based in Lugo, a city in the north-west of the country.
In December, Europastry snapped up Portuguese “craft baker” Confeitaria Torres, which specialises in products such as the Portuguese cake Bolo Rei.
A month earlier, Europastry became the sole shareholder in Wenner Bakery, a US business in which it first invested in 2013.
Further south, in September 2017, Europastry gained entry to the South American market after buying Chilean food group Crandon for an undisclosed sum.
