Europastry, the Catalan company specialized in the manufacture and distribution of frozen dough and bakery products globally, is studying a possible IPO this summer, according to Cinco Días and Servimedia has been able to confirm with financial sources.
According to these sources, although a decision has not yet been made, the operation would contemplate the combination of an IPO (Public Sale Offer) to release capital to MCH with a capital increase (Public Subscription Offer) with whose funds the company It would obtain liquidity to continue with its growth and expansion plans. In any case, as these sources explain, the founding family would maintain its position as it is now.
In recent years, Europastry has reinforced its position as a benchmark in the sector, positioning itself in the Top 3 globally with more than 50% of its business coming from the international market and with clear leadership in Spain. The company has combined organic growth with corporate operations such as the acquisition of Dawn Foods’ leading European frozen muffin and cookie business. In 2022, the last accounts deposited in the commercial registry, Europastry recorded sales of 1,121 million euros, 32.6% more than the previous year.
But it will not be the only movement seen this year in the sector. The CVC fund is analyzing the purchase of Monbake, currently owned by Ardian, Artá ??Capital, Alantra and the Gallardo family. According to sources in the sector, the transaction could be around 1,000 million euros. Taking this amount as a reference, these same sources explain that Europastry’s valuation could be between 2,000 and 2,500 million euros.
The frozen bakery dough segment has been gaining more and more market share in recent years and is expected to continue doing so in the future. According to a report by KBV Research, the size of this market is expected to reach $43.7 billion globally by 2030, growing at an annual rate of close to 6%.
