Spanish bakery producer Europastry has acquired a controlling interest in Chilean company Alicomer.
Although the financial terms have not been disclosed, the transaction provides Europastry with a manufacturing platform in Chile, where it already supplies bakery and foodservice customers.
Alicomer operates two bakeries in Santiago, where it produces breads marketed under the Pan de Origen name.
Europastry said in a statement that the products are “made with sourdough and slow-fermentation processes”.
Pan de Origen’s portfolio spans ciabatta, sourdough bread, olive bread and a low-carb, high-protein product.
While Europastry primarily serves bakery and foodservice customers in Chile, Alicomer’s distribution network reaches the country’s supermarket chains.
“The addition of Alicomer and Pan de Origen strengthens our commitment to innovation, quality and international growth, while opening up new opportunities to continue expanding in Latin America and offering products that meet the evolving needs of our customers and consumers,” Europastry executive chairman Jordi Gallés said.
Europastry, which remains privately owned, already has a Latin American manufacturing presence through facilities in Mexico, alongside offices in Colombia and Costa Rica.
In June, the bakery group confirmed its purchase of US-based Highland Baking Company. Europastry said the acquisition lifted its annual sales above €2bn (then $2.28bn).
Established in 1984, Highland Baking supplies baked goods to foodservice operators. Its range includes hamburger buns, pretzel products, ciabatta and pan breads, among other categories.
Highland Baking has manufacturing facilities in Northbrook, Illinois, and Spartanburg, South Carolina.
Europastry sells its products in more than 90 countries and employs more than 6,000 people worldwide.
In the previous year, the company purchased a 60% stake in Thailand-based Art of Baking, a producer of ready-to-eat and frozen bakery goods.
Europastry has additionally pursued two IPO launches. Both plans were withdrawn because of “heightened volatility” across financial markets.