Bimbo buys Panrico

Bimbo has signed a pre-agreement to acquire the 100% from Panrico to the venture capital fund Oaktree, which had entered the company's capital in 2010.

  Thanks to this operation, Bimbo becomes the absolute leader in Spain in the sliced bread and bakery business. In the latter market, Bimbo's position is weak, but thanks to Panrico Bimbo will be able to position itself as a leader with brands such as Donuts and Bollycao.

Bimbo acquires Panrico free of debt after the restructuring carried out by Oaktree, which has also assumed in recent years the wear and tear generated by the redundancy programme (ERE) it carried out in 2013. Under the agreement, Bimbo will keep Panrico's 2,000 employees, buy its brands and keep nine factories in Spain and Portugal.

Portobello sells Angulas Aguinaga as it sells its historic holdings en bloc

Portobello has sold its historical holdings to US fund HarbourVesta portfolio buyout specialist, which over the past 30 years has completed more than 10,000 M$ in secondary buyouts and directly invested more than 4,000 M$.

The change of shareholders affects Angulas Aguinaga and the ice cream manufacturer Ice Crean Factory CoMaker.

"Angulas Anguinaga, which originally marketed elver substitutes based on surimi, has been very active in recent years, pursuing a diversification strategy. Thus, it has entered into fresh fish after signing an alliance with the Norwegian giant Marine Harvest, started the production and marketing of smoked salmon and has also recently signed an agreement with the Galician company Linamar to enter the world of mussels" comments Diego Gutierrez of Abra-Invest.

Portobello will keep in its portfolio the companies acquired in the last few months: the canning company Industrias Alimentarias de Navarra (Ian), owner of the 'Carretilla' brand; the group of geriatric residences Vitalia Home, in which Portobello entered last February; and the car park specialist Estacionamientos y Servicios (Eysa).

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