DULCA, an industrial bread and pastry baking SME, based in the Salamanca province, was interested in increasing its production capacity and offering new products. The company was in the process of preparing this investment through the expansion of its site, when it was contacted by BPI, who informed them that Panrico was in the process of selling their factory in the North of Spain.

PANRICO, a leading Spanish company in the sector was involved in concentrating its production facilities, leading to the closure of one of its factories in the Alava province (Basque Country), threatening 170 jobs. To limit the social impact of this industrial reorganisation, PANRICO had decided to seek an investor who might take over the site and become its croissant supplier.

Apart from serving as an intermediary and facilitator in negotiations regarding this project, BPI also:

 assisted PANRICO (the seller and a BPI client) in laying out the offer to be submitted to potential investors and to suggest serious companies with proven experience to PANRICO;
 supported DULCA (the buyer) throughout the project, particularly regarding access to sources of finance.

In the end, following several months of negotiation, the sale of the factory between PANRICO and the ad hoc company created by the owners of DULCA was sealed. This operation enabled:

 DULCA to implement its aim of growth and diversification by taking on a factory that was already in use, assets at very competitive prices and experienced staff, as well as initiating a collaboration with one of the major players in the sector.
 PANRICO to successfully pursue its policy of concentrating and outsourcing some of its production, by identifying a supplier that could provide it with quality guarantees.
 the successful maintenance of the business and the jobs on the site, in a small district with a limited number of existing companies.

 

Back

Legal | Contact us | BPI Group |