Europastry expands footprint by acquiring 60% of Art of Baking in Southeast Asia
Europastry terms the region as having “high growth potential”.
SPAIN/ THAILAND – Europastry, a Spain-based bakery giant, has acquired a 60% stake in Thailand’s Art of Baking, marking a strategic move to deepen its footprint in Southeast Asia.
The deal positions Europastry to accelerate its expansion across the Asia-Pacific region and strengthen its global customer network.
Europastry acquired the stake from Minor International Public Co. and Srifa Frozen Food, both of which will retain 20% ownership, each in Art of Baking.
This partnership is expected to unlock new commercial and industrial opportunities for Europastry, which now serves over 90,000 customers worldwide.
Founded in 2018, Art of Baking is headquartered in Bangkok and specialises in ready-to-eat and frozen bakery products.
Its portfolio includes sweet pastries (croissants, puff pastries, Danish dough), savoury pastries, flatbreads, and pizza bases.
The company’s production facility boasts an annual capacity of 15,000 tonnes, with room for future expansion.
It currently exports to markets such as Japan, Singapore, and the Philippines, and serves both retail and foodservice clients.
“This partnership represents a transformative step for Art of Baking,” remarked Peerawat Jentrakulroj, CEO of Art of Baking.
“It empowers us to solidify our position as a key production hub in the Southeast Asian bakery sector. Together, we can capitalise on significant opportunities and deliver exceptional value to our shareholders and partners”.
The acquisition also brings more than 200 skilled employees into Europastry’s fold, enhancing its operational capacity in Thailand and reinforcing its commitment to local integration.
Europastry’s CEO Jordi Gallés emphasised the synergy between the two companies: “Art of Baking’s experience and track record, coupled with our know-how, will allow us to continue generating value and offering the best proposition to our customers”.
The move follows Europastry’s decision to postpone its IPO for the second time last year, signalling a shift toward strategic partnerships and organic growth in emerging markets.
Minor International, one of the sellers, operates over 3,000 restaurants, hotels, and bars across Southeast Asia, while Srifa Bakery, Art of Baking’s founder, runs a network of more than 30 bakeries in Thailand.
With Southeast Asia’s bakery market projected to reach US$2.3 billion by 2029, Europastry’s investment positions it to ride the wave of rising demand for frozen and ready-to-eat baked goods.
This acquisition not only focuses on growth, but also on shaping the future of bakery innovation in one of the world’s most dynamic food markets.
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