The company intends to optimize its portfolio, strengthen the balance sheet and deliver sustainable longterm value to shareholders.
The deal reflects the company’s ongoing strategy to broaden its product portfolio and reinforce its position in the growing private-label snack segment.
The watchdog provisionally concluded that the merger is unlikely to raise competition concerns in Great Britain, largely because ABF’s bakery arm, Allied Bakeries, is expected to exit the market if the deal does not proceed.
The move marks a significant milestone for Stellar Snacks as it continues to expand its national footprint across the United States.
The acquisition will allow Bridor, a subsidiary of the France-based Le Duff Group, to integrate Panamar’s industrial baking capabilities and distribution network across Spain and other European markets.