A slew of international private-equity groups including Permira, CVC, PAI Partners, Suala, Carlyle, Advent and Vestar, and Spanish rivals Vista Capital and Mercapital, have bidded over €600m (US$766.1m) for Spain’s biggest baker Panrico, according to local newspaper La Gaceta.


Citing sources close to the transaction, the paper said Panrico adviser JP Morgan bank is to choose the best five offers in coming weeks. Permira is a strong candidate, the paper added.


Panrico makes quintessential Spanish doughnut brand ‘Donuts’ and the popular Bollycao chocolate pastry. It competes fiercely with Mexican-owned rival Bimbo. Barcelona-based Panrico delivered sales of €680m last year. It employs 6,000 workers and has 11 factories in Spain and abroad.

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