EUROPASTRY acquired by MCH PRIVATE EQUITY
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 LOGIN in 2010, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the AgriFood sector (10.2x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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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
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Equity Value
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Multiples
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with EUROPASTRY
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 03/2026 | ARES | EUROPASTRY | SPAIN | Food Processing | Ares Management has led a €300 million ($346 million) single-asset continuation fund to extend the ownership of Europastry, currently held by MCH Private Equity (who originally invested in 2011). The transaction includes participation from the Asset Management Umbrella Fund (advised by the EIF) and Newbury Bridgepoint |
REFERENCES
Revenue range: 250M - 500M EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Target: europastry
Acquirer: mch private equity