Spanish Cake Producer Reina Acquires Portugal’s Condi
Spanish sweet desserts and cakes producer Postres Reina (Reina Group) has acquired a majority stake in Portuguese company Condi Alimentar.
Based in Lisbon, Condi Alimentar is family-owned producer and distributor of powdered desserts and gelatins, making it one of the market leaders in Portugal.
The Portuguese company operates two factories in the Greater Lisbon area (in Malveira and Loures) and has an annual turnover of €8 million. Exports to Spain, Angola and Cape Verde account for nearly 30% of the company's export total.
Condi Alimentar’s products are distributed through large retail chains and distributors.
According to the company, brothers Luis and João Pires will remain in the management team of Condi Alimentar, but will share responsibility with 'Surivan feel the taste', a Reina Group-owned company specialised in the production of additives, flavours and ingredients for pastry, ice cream and catering.
Reina Group already has a factory in Portugal – located in Pombal, near Leirira – DoceReina Sobremesas, that is in the process of doubling its current production capacity.
Last year, the factory produced about 15,000 tonnes of dairy desserts and gelatins, of which more than half were destined for the Spanish market.
Condi Alimentar celebrated its 30th year of business this year.
'The experience of the group's companies, together with their firm commitment to innovation and development, will give a national boost to a brand already consolidated in Portugal,' Reina said in a statement.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine