CriteriaCaixa, a participation that manages the business assets of the «La Caixa» Foundation, has reached a preliminary agreement for its entry into Europastry Capital and to become one of its significant shareholders, with approximately 20%, the holding announced in a statement this Friday.
The criteria have emphasized that this alliance aims to increase the growth of bakery, pastry, and frozen dough products and accelerate their global expansion «and reinforce their commitment to innovation and production excellence.»
The incorporation of CriteriaCaixa as a significant shareholder with approximately 20% of the capital will be formalized in the coming weeks.
«This operation reinforces the main company’s goal to invest in leading companies in highly attractive sectors, with growth potential and value generation, within the framework of its 2030 strategic plan,» stated the participation.
In this way, the criteria affirm that it will strengthen its diversification strategy, gaining exposure to the food sector and directly impacting the potential of Europastry, which in turn will see its long-term strategy reinforced.
Europastry, currently operating in over 80 countries through 27 manufacturing plants, achieved a turnover of 1.506 billion euros in 2024 and a gross operating profit (EBITDA) of 237 million euros, making a record investment of 124.4 million euros in R&D and technology.
«This operation aligns with CriteriaCaixa’s strategy to seek long-term investment options that contribute to developing an industrial fabric,» affirmed the participation.
The criteria also highlighted that this investment is part of the boost to Criteria’s private equity portfolio, aiming to reach a value of 4,000 million euros by 2030.
Overall, CriteriaCaixa currently manages a portfolio of 30.4 billion euros and aims to reach 40 billion euros by 2030.
Europastry had planned to go public, but two days after its debut on October 10, it canceled its plans due to low acceptance of the operation among investors.
The company, specializing in frozen dough, aimed to raise 210 million euros, of which 109.1 million was expected to be allocated to reduce debt and 89.6 million to inorganic growth.
Subsequently, the company justified the cancellation of its IPO «in response to the international geopolitical situation, which is causing profound instability in the markets.»