2 days Ago By ARA
Criteria, the investment arm of the La Caixa Foundation, will invest 20% in the capital of the Catalan company Europastry. The transaction follows four unsuccessful attempts to list the frozen dough manufacturer for bread ovens on the stock market. The alliance aims to boost the company's growth, accelerate its expansion, and strengthen its commitment to innovation and productive excellence, according to Criteria.
The transaction will be formalized in the coming weeks. Europastry's capital acquisition fits into La Caixa's strategy of investing in leading companies "in highly attractive sectors, with the capacity for growth and value creation," within the framework of its 2030 strategic plan. The initiative is part of Criteria's diversification strategy, which has the largest portfolio of business investments.
According to the holding company chaired by Isidre Faine, with this step, Criteria gains ground in the food sector, and the company, in turn, consolidates its long-term strategy. Europastry had revenues of €1.506 billion last year and an operating profit (EBITDA) of €237 million.
The company, whose main shareholder is the Gallés family, allocated €124.4 million to investments in research and development (R&D) and technology, a record level. With this initiative, Criteria consolidates its commitment to seeking long-term investment options for developing the industrial fabric.
As part of La Caixa's plans, this investment is part of the private equity portfolio, expected to reach a value of €4 billion by 2030. In total, the holding portfolio, which currently exceeds a value of €30 billion, is expected to reach €4.0 billion.
Ángel Simon became CEO in January of last year..
