Frozen Bakery Firm Europastry Plans To Go Public

By Dayeeta Das
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Frozen Bakery Firm Europastry Plans To Go Public

Family-owned frozen bakery business Europastry has announced plans to launch an initial public offering in Spain.

Europastry expects to raise around €225 million in its primary offering, it announced in a statement.

A second offering will be made by investment firm Exponent, owned by the MCH Continuation Fund under the umbrella of MCH Private Equity; Gallés Office; and Indinura, controlled by Europastry’s chief executive officer, Jordi Morral.

Gallés Office, S.L., owned by the Gallés family, will remain a controlling shareholder post the launch of the IPO, the company added.

The company plans to apply for listings on the Barcelona, Madrid, Bilbao and Valencia stock exchanges, collectively known as the 'Spanish Stock Exchange'.


'Next Stage Of Development'

Jordi Gallés, chief executive officer of Europastry stated, “Europastry is at the next stage of its development, and this IPO is the natural way to fund and accelerate our growth strategy to foster our leadership position in the frozen bakery segment while deleveraging and maintaining a prudent capital structure.

“Through international expansion, continued product innovations, and a value-accretive acquisitions strategy we want to cement our position as a leader in the global frozen bakery market and promote sustainability in the sector. We are excited about our future as a listed company.”

The offering will be made to qualified investors, including a placement in the United States, to qualified institutional buyers under Rule 144A, the company added.

Europastry, which operates in more than 80 countries across the world, generated a turnover of more than €1.3 billion in 2023.

It is one of the leading suppliers of frozen bakery products in Spain, with a 27% market share in the country. It also claims to be among the top five players in the global frozen bakery market segment.

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