Europastry on track for export growth
25 September, 2009
Spanish firm Europastry is to open a commercial subsidiary in the Netherlands to widen its distribution links in Europe.
The new site will serve markets in Germany, Belgium and Northern Europe, to which it already distributes.
The firm, which produces part-baked bread and frozen pastries, also has subsidiaries in Portugal and France and exports to 20 countries.
With plans to expand further into international markets, Europastry said it already obtains 15% of its income from outside Spain. Last year it achieved a E360 million turnover (£320.4m) and grew by 10%.
It has seen high growth rates for a number of its products, such as Pan Gran Reserva a country loaf and its doughnuts. "During the first six months of the year, doughnut exports grew by 40%, making Euro-pastry the largest European manufacturer of frozen doughnuts," said a spokesperson for the company.
It has also invested E12.3m (£10.94m) on research and development this year, and has worked to eliminate hydrogenated fats from its products and launch a new range of healthier pastries for children.