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Europastry Investing €20m in 2010 as Sales Set to Reach €385m

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Europastry Investing €20m in 2010 as Sales Set to Reach €385m

Europastry Investing €20m in 2010 as Sales Set to Reach €385m
July 26
11:27 2010

Europastry is investing Eur20m this year to expand its production and logistics capacity in Spain. The Spanish and international bakery group is spending Eur12m on a third production line for premium bread brand ‘Gran Reserva’ at its plant in Vallmoll (Tarragona).. The remaining Eur8m is the final tranche of the investment in a new automated warehouse at Vallmoll, which has been operational since December 2009. This will extend the site’s capacity to 20,000 pallets with the ability to handle between 200 and 250 trailer movements a day.

Europastry has been steadily extending its penetration of European bakery markets beyond Spain and also recently entered the US. Indeed, Europastry has now become the third largest producer of frozen dough in Europe, behind Lantmannen and Vandemoortele.

Europastry has also been expanding rapidly within the Spanish food service channel, which in 2009 accounted for 34% of sales, compared to 28% in the previous year. During 2009 Europastry increased net turnover by almost 5% to Eur370m, through the sale of 145,000 tones of bread and 52,000 tons of bakery products. Growth in its current financial year is expected to slow down to 4%, with sales reaching in the region of the Eur385m.

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