Without leaving without an industrial partner, the Spanish frozen mass mass giant Euro -USTRA continues to grow. The multinational, belonging to the Gallés family, closed the first semester of the year with an increase in sales by 12% to 800 million euros, and bought 60% of Thai art of baking, also specialized in frozen baking products, as the company reports in the press release.
Europastry canceled his IPO last year, and a month ago Criteriacaixa, who announced that he would acquire 20% of capital for about 300 million euros, also retreated. For the company, the results until June reflect the “strength of business and the company’s international expansion strategy.”
The multinational did not report the scope of the operation, but guarantees that it strengthens the presence of the Europstroy in Southeast Asia, a “key market with high growth potential”. The remaining 40 % of the capital of art baking are distributed between the Minor International (20 %), the leading Thai group, which runs more than 3,000 restaurants in the region, as well as 600 hotels in Europe, and the Srifa bakery, founding the company that controls a network of more than 30 bakers in the country.
The baking art was founded in 2018, in Bangkok it has 200 employees and institutions, with an annual production capacity of 15,000 tons of frozen mass: sweet pastries, salted flags, pancakes with flat bread and pizza bases, which are also exported to Japan, Philippines and Singapore.
Despite the two corporate strokes, the executive president of the company Giordi Galles believes that the business -targets, noted, according to the statement, are achieved. The company, which is in the key moment, to take the next step in its development, does not yet disclose which steps will take as an alternative.
Europstry closed for 2024 with a turnover of 1.506 million euros, gross output of operation of 237 million euros and record investments of 124.4 million euros in research and development and technology.
This is a global giant from the production of frozen mass, which is sold by bakery network, restaurants and supermarkets. In addition to their own brands, such as Saint Honoré and Maestra (bread), Lykke and Saudade (baking) or Chusa, as well as the mass of Nostra (Pizzas and Empanadas), the Catalan company generates most of its business in production for the third parties. Although his clients are not disclosed, it is known what he produces for Starbucks, Pret a manger, Manolo bakes – known for his mini -trunks without horns (Manolitos) – Granier, Dunkin Donuts or Mercadona. Based in Barcelona, it operates in 80 countries and has 27 production centers, 15 of them in Spain. In 2023, he used 3760 people throughout Europe and another 1130 outside the public borders, as was registered in the annual report of the 2023 company.
