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05/2011Minority

MCH Private Equity invests in Europastry

SPAIN Food Processing / Food Products / Bakery / Pastry REV €250–500M

Context

MCH Private Equity acquired 18% stake in Europastry in a transaction that allowed for the exit of the historical shareholder Vall Companys (which previously held 24%). Concurrently, the founding Gallés family increased their majority stake to 80%, reaffirming their long-term commitment. The deal was supported by a €200 million syndicated loan to restructure the company's debt and provide the "dry powder" necessary for its global buy-and-build strategy. This investment marked the beginning of a 15-year partnership that saw Europastry's revenue grow five-fold, transforming it from a national champion into one of the top five global players in the frozen bakery market.

Europastry, which reported an EBITDA margin of [members only] in 2010, is valued in this transaction at an EV/EBITDA multiple of [members only].

-> Deep-dive in AgriFood market trends

Target

Europastry operates as a manufacturer and distributor of frozen dough solutions for the bakery sector. The company’s business model focuses on supplying frozen bread, viennoiserie, and pastry snacks through a multi-channel commercial structure targeting artisanal bakeries, grocery retailers, and foodservice operators. Operating with an international footprint, the platform generates more than half of its revenue outside its domestic Spanish market, maintaining commercial operations across over 80 countries with a focus on North American distribution. The organization’s operational architecture is backed by an industrial network of 30 production facilities and a product development framework. To maintain catalog agility, the company allocates resources toward continuous R&D cycles, with recent product launches driving over 22% of its total revenue. Additionally, the firm integrates environmental sustainability mandates into its operational model, targeting the transition toward carbon-neutral manufacturing lines and the increased use of renewable energy sources across its facilities.

Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2010
€250–500M
[members only]
[members only]
2009
€250–500M
[members only]
[members only]

Other operations with Europastry

Other operations with Europastry
DateAcquirerTargetCountrySector
03/2026ARESEUROPASTRYSPAINBakery / Pastry

Other operations with MCH Private Equity

Other operations with MCH Private Equity
DateAcquirerTargetCountrySector
03/2023MCH PRIVATE EQUITY / EURAZEOFERMAXSPAINSafety & Security

Similar deals in Food Processing

Similar deals in Food Processing
DateAcquirerTargetCountrySector
08/2013INVESTCORPTYRRELLSUNITED KINGDOMFood Products
07/2013ARTÉMISMICHEL ET AUGUSTINFRANCEFood Products
07/2011IK PARTNERSSOLINA GROUPFRANCEIngredients
05/2011GENERAL MILLSYOPLAITFRANCEDairy
03/2011ADVENT INTERNATIONALPARTNER IN PET FOOD (PPF)HUNGARYPetfood
12/2010YOPLAITLIBERTECANADADairy
10/2010LBO FRANCEMATERNE-MONTBLANC (MOM GROUP)FRANCEFood Products
07/2009DEAN FOODSALPROBELGIUMDairy
06/2007ARDIANDIANA GROUPFRANCEIngredients
05/2007COCA-COLAGLACEAUUNITED STATESSoft Drinks

REFERENCES

Revenue range: REV €250–500M

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Europastry by MCH Private Equity are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: europastry

FAQ

What transaction does this page cover?

This page covers the acquisition of a minority stake in Europastry, a Spanish company specialised in Food Products, by MCH Private Equity in 2011. Ownership has since evolved, leading to a subsequent transaction with Ares in March 2026 (see the dedicated deal page for details).

What was Europastry’s revenue at the time of the deal?

At the time of the transaction, Europastry’s annual revenue was estimated within the €250–500M range (FY 2010). Detailed financial figures are available to members.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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