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Vicky Foods, the Spanish food group, has signed an agreement with peer Adam Foods to acquire the bakery brand Panrico and its production center in Gulpilhares, Portugal. The acquisition includes a 50,000 sq m facility featuring three production lines with an annual capacity of 21,000 tonnes.
According to Vicky Foods, the Panrico brand recorded a turnover exceeding €23.8 million ($25.75 million) in 2023 across the Spanish and Portuguese markets. The operation is part of an international expansion strategy to strengthen the group’s industrial structure in the Iberian Peninsula.
Vicky Foods, which currently operates production plants in Spain and Algeria and is constructing a new facility in France, noted that the bread category has been its primary business line by sales volume since 2021. For Adam Foods, the sale aligns with a strategic focus on its core categories, such as biscuits. The Panrico bakery business was previously acquired by Adam Foods from Grupo Bimbo in 2016 to satisfy competition authorities following Bimbo’s purchase of the broader Panrico assets.
Rafael Juan, CEO of Vicky Foods, stated: “The incorporation of Panrico means reinforcing our identity as a company with bakery roots. We are committed to growing the bread category, strengthening our brands, and continuing our international expansion with a solid, long-term industrial vision.”
Source: Vicky Foods / Just Food / El Economista
