PANRICO has been 100% owned by GRUPO BIMBO since July 2015.

At what enterprise value was PANRICO acquired in 2015?

During the acquisition of PANRICO by GRUPO BIMBO in 2015, the transaction's Enterprise Value is estimated to be in the range of 100M - 350M EUR.

What was the EV/EBITDA of PANRICO when it was acquired by GRUPO BIMBO?

The estimated EV/EBITDA multiple for PANRICO is in the range of 5x - 12x.

When was PANRICO acquired by GRUPO BIMBO?

PANRICO was acquired by GRUPO BIMBO in 2015.

What was the EBITDA of PANRICO during the acquisition?

PANRICO's EBITDA is estimated to be in the range of 10M - 30M EUR.

How is the data for the PANRICO acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the PANRICO deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.grupobimbo.com/en/press/releases/productivity/grupo-bimbo-acquire-iberian-company-panrico-sau-transaction-will

What is the average EV/EBITDA multiple for the AgriFood sector in 2026?

The average EV/EBITDA multiple for the AgriFood sector in 2026 is 11.0x.

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Home Database AgriFoodPANRICO

07/2015

PANRICO acquired by GRUPO BIMBO

SPAIN Food Processing / Food Products EV 100M - 350M EUR

Context

Grupo Bimbo reached a definitive agreement to acquire 100% of the shares of Panrico S.A.U. The transaction is structured as a partial acquisition: Bimbo acquires the high-margin sweet baked goods business but excludes the "branded packaged bread" category. This exclusion was likely driven by antitrust considerations, as Bimbo already held a dominant position in the Spanish bread market. The deal allows Bimbo to capture significant manufacturing and distribution synergies in the Iberian region.

PANRICO, which reported an EBITDA margin of in 2015, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the AgriFood sector (11.0x).

-> Deep-dive in AgriFood market trends

Target

Panrico is one of the leading producers in the Iberian baking industry. The acquisition specifically encompasses its "Sweet Baked Goods" and "Buns & Rolls" divisions, excluding the branded packaged bread category. The portfolio includes iconic local brands such as Donuts®, Donettes®, Bollycao® (chocolate buns), La Bella Easo®, and Qe!®. At the time of the deal, Panrico operated nine production facilities and employed over 2,000 associates.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2015

2014

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06/2015	IK PARTNERS	CERELIA	FRANCE	Bakery / Pastry
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05/2015	HORMEL FOODS	APPLEGATE	UNITED STATES	Meat & Cured Meat
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REFERENCES

Valuation range: EV 100M - 350M EUR

EBITDA range: 10M - 30M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of PANRICO by GRUPO BIMBO 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.

Press release: view release

Acquirer: grupo bimbo