Vicky Foods to acquire Panrico sliced bread brand from Adam Foods
The acquisition is expected to significantly boost the company’s production capacity and brand portfolio in the competitive bakery sector.
SPAIN – Vicky Foods, a prominent Spanish bakery group, has reached an agreement to acquire the iconic sliced bread brand Panrico from fellow food company Adam Foods, strengthening its dominance in the Iberian bread market.
The deal encompasses the Panrico brand across Spain and Portugal, along with its key production facility in Gulpilhares, Portugal, a 50,000-square-meter site equipped with three dedicated sliced bread lines boasting an annual capacity of 21,000 tonnes.
This strategic move enhances Vicky Foods’ production capabilities in the high-demand sliced bread segment, which has become its top revenue driver by volume since 2021.
CEO Rafael Juan emphasized that the acquisition reinforces the company’s bakery heritage, enabling growth in the bread category, brand enhancement, and accelerated international expansion with a robust industrial base.
Vicky Foods, which already operates four plants in Gandía, Villalonga, Algeria, and France, producing nearly 2,500 products, now integrates Panrico to optimize supply chains and meet rising consumer demand for convenient baked goods.
The bread category has consolidated its position in recent years as Vicky Foods’ leading business line in terms of sales volume, surpassing pastries since 2022.
The integration of Panrico, whose turnover exceeded €23.8 million in both markets last year, reinforces this evolution and provides greater production capacity in a key category, especially in the sliced bread segment, where the brand enjoys strong consumer recognition.
This acquisition is part of Vicky Foods’ international expansion strategy and represents a significant step forward in strengthening its industrial structure on the Iberian Peninsula.
The addition of the Gulpilhares plant consolidates its presence in the Portuguese market, reinforces its operational capacity in the region, and expands its development potential in strategic European markets.
For Adam Foods, the divestiture aligns with its focus on core strengths, such as biscuits, following its 2023 expansion via the Dr Gerard acquisition and a prior 2016 purchase of Panrico from Grupo Bimbo to address antitrust concerns.
Financial details remain undisclosed, but the transaction covers essential assets to ensure seamless operations in key markets.
The integration of Panrico into the group reinforces Vicky Foods’ commitment to developing brands with value, recognition, and an emotional connection with consumers.
This adds to a consolidated portfolio that includes brands such as Dulcesol®, the market leader in Spain for bread, pastries, cakes, and ice cream; Be Plus®, focused on healthy and convenient food; Hermanos Juan®, which offers frozen bread and pastries for the hospitality and food service sectors; Il Forno di Giovanni Ricci®, with Italian recipes; and FIT’z® , the brand of frozen prepared foods.
The acquisition comes amid robust growth in Europe’s bakery sector, where demand for sliced bread is surging amid urbanization and on-the-go lifestyles.
By consolidating Iberian production, Vicky Foods positions itself for exports and innovation in sustainable packaging and healthier formulations, vital for agribusiness competitiveness.
This deal underscores consolidation trends, enhancing efficiency and market share for family-owned players like Vicky in a landscape dominated by global giants.
As Spain and Portugal prioritize food security and local manufacturing, Vicky’s expansion promises job retention at the Portuguese plant and supply chain resilience, benefiting suppliers in wheat-sourcing and distribution networks.
The move cements Vicky Foods’ leadership, driving value in a staple category essential to daily consumption across the region.
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