Europastry is acquiring US business Highland Baking Company as the Spanish bakery group expands its presence in North America.
In a statement today (23 June), Europastry confirmed it has reached an agreement to buy the Illinois-based, family-owned business. Financial terms were not disclosed.
Europastry said the acquisition marks a "defining step" in its North American strategy, bringing together two businesses with "complementary capabilities and products".
The deal will also lift the group's annual revenue above €2bn ($2.28bn), it added.
Europastry executive chairman Jordi Galles said: "This transaction is much more than an acquisition: it is the coming together of two companies that share values, a long-term vision and the same approach to business.