Cofides has detailed that it has taken part in the capital increase of Europastry carried out by the company in order to complete the acquisition of the US-based Highland Baking by June, as it has indicated in a statement released this Wednesday.
Specifically, Cofides has channeled, through the Fund for Investments Abroad (FIEX), a contribution of 49.6 million euros into Europastry as part of this transaction, which has reached a total amount of 300 million and has been led by the MCH Fund.
Highland Baking Company is dedicated to the production of high-quality bread for the food-service channel, and Europastry explained at the time that the purchase will allow it to position itself above 2,000 million euros in revenue.