Baker & Baker, one of Europe’s leading suppliers of bakery products, has announced the acquisition of Peipen, a pastel de nata (Portuguese custard tart) producer.
According to sources, the deal will enable the firm to expand the production capacity of the Portuguese pastry with new production lines.
The agreement includes a 5000 sq. mt. manufacturing facility located in Peniche, with all the equipment, and Baker & Baker, reportedly, entered a rental agreement with the property owners.
European CEO at Baker & Baker, John Lindsay, commented: “We’re thrilled to have concluded the acquisition of Peipen. It’s a strong business that has supported us as a supplier for many years. The facility complements our existing portfolio by adding an attractive, core bakery line and supports our move towards developing our speciality laminated business in our growing Iberian market and quickly adds much-needed capacity. We’re confident that Baker & Baker Peniche can deliver further growth for our business, through additional Pastel de Nata listings and the introduction of additional speciality bakery lines”.
Baker & Baker owns two other facilities in the country, one in Santo Tirso and another one in Sao Joao da Talha.
Source: Foodbev / Grande Consumo