J. Skinner Baking, a company specializing in artisan baked goods including danishes, muffins, cinnamon rolls, brownies, and bars, announced that it has been acquired by Stellex Capital Management – a private equity firm that invests in middle market companies in North America and Europe. The financial details of the transaction have not been disclosed.
Business
Europastry S.A. decided to postpone its initial public offering (IPO) at the Spanish Stock Exchanges, a few weeks after announcing its plans to apply for admission of the Shares to listing on the Barcelona, Madrid, Bilbao and Valencia stock exchanges.
The Committee of European Sugar Users (CIUS) issued a position following the suspension of sugar imports from Ukraine into EU countries, a measure it finds “economically unjustified for sugar and incoherent with the EU’s promise to support Ukraine.”
Popeyes® UK is opening a new restaurant in central Glasgow, on July 5, 2024. It will be located on Sauchiehall Street, marking the brand’s 17th opening this year, and the 50th store opening in the UK since its arrival in the country, in November 2021.
Despite the tense geopolitical situation and associated market disruptions, the Oetker Group managed to increase its sales organically by 6.3% to over EUR 6.9 billion in 2023. The group is forecasting moderate growth for the current financial year.
Freiberger Lebensmittel, one of the largest manufacturers of frozen pizza in Europe, is building a new frozen pizza factory on the premises of its subsidiary Stateside Foods, near Manchester, UK. Construction began in the fourth quarter of 2023, and commissioning is planned for the first quarter of 2025.
Mondelēz International repaired the Ukraine factory damaged by the war and resumed the production of Oreos. The facility located in Trostyanets sustained significant damage, Reuters reports, but no employees were hurt. The Oreo plant was closed when the war began.
Greggs is planning to open a new facility in Derby, which is bound to require some 600 people, the bakery anticipates. Construction is underway for a new sustainable production site in Spondon. New savory and sweets products will be produced here when the site opens, before the end of 2026.
EU antitrust regulators are deciding if the Bunge-Vitera merger meets approval conditions by July 18. The companies announced the intention to merge last year, following a similar step taken by its competitors ADM and Cargill. If approved, the new agricultural entity will be worth USD 34 billion, Reuters reports.
La Lorraine Bakery Group acquired 50% of Bakery de France’s business, a US-based company. The joint venture will supply the North American market.
