Snacking firm Grupo Apex has purchased popcorn brand Pop Up from Grupo Bimbo for an undisclosed sum.
The company has also signed a long-term agreement with Grupo Bimbo for the exclusive distribution rights of the Eagle nuts brand in Spain, Portugal and Andorra.
The move will see the Navarra-based company expand its portfolio of salted snacks and consolidate its position in the market.
Grupo Apex, recently acquired Viube Foods, a Catalan manufacturer of vegetable chips as a part of its growth and diversification strategy in sales channels and product families that it has been developing for a decade.
Investment In Production Facilities
In addition to the expansion of brands and businesses, the company will also invest in improving productivity and increasing production capacity in its factories to respond to growth in sales.
The company witnessed sales exceeding €100 million in its previous financial year.
It is currently completing the expansion of its facility in Ejea de Los Caballeros, Zaragoza.
The project follows the expansion of its factories in Ribaforada in Navarra and Riego de la Vega in León.
In July of this year, Grupo Bimbo reported net sales rise of 18.1% in the second quarter and attributed its performance to increased focus on its core bakery business.
The group decided to shed some of its confectionery brands, committing to a long-term focus on core categories, such as grain-based foods.
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