The 120 year old bakery will shut down after sale talks ended and financial pressure continued to mount.
The new Plano location marks the company’s 27th bakery café in Texas as it continues to grow across North America.
The equipment is destined for a cereal storage facility in Bandari, Tanzania, and SACE, the export credit agency owned by Italy’s finance ministry, insured the transaction through a tool it calls Supplier Credit.
The company has completed a US$5 million upgrade that will increase soybean processing and expand support for Italian farmers.
By expanding manufacturing capacity and accelerating innovation, the new facility will strengthen the company’s ability to meet rising consumer demand for memorable food experiences in one of Southeast Asia’s fastest-growing markets.