Business · Companies · 8 hrs ago
Cofides invests €49.6 million in frozen-dough maker Europastry
Spain’s state-owned Cofides invested €49.6 million in Europastry, a Catalan maker of frozen dough for bread and pastries.
The investment is part of a €300 million capital increase led by private equity firm MCH, a major shareholder alongside the founding Gallés family.
Europastry is using the funding to support its growth plans in the United States.
The company bought US bakery supplier Highland Baking, which has plants in Illinois and South Carolina, in a deal that closed in June.
The purchase cost about €700 million and was funded with €300 million from the capital increase and €400 million in bank debt.
MCH’s stake is estimated to rise to about 30%, while the Gallés family is expected to retain a majority stake of around 67%.
MCH extended its investment after Europastry’s planned stock market listing failed in October 2024.
Cofides invested €49.6 million in frozen-dough maker Europastry to support its growth plans in the United States.
The state-owned company made the investment through Spain’s Foreign Investment Fund, Fiex.
The investment forms part of a €300 million capital increase led by MCH Private Equity.
Europastry recently expanded in the United States by buying Highland Baking, which has plants in Illinois and South Carolina.
The Gallés family retains a majority stake in Europastry after the capital increase.
- Who
- Cofides invested in Europastry, a frozen-dough company controlled by the Gallés family.
- What
- Cofides invested €49.6 million as part of a €300 million capital increase.
- When
- The investment was reported on 4 November 2026.
- Where
- Europastry is based in Sant Cugat del Vallès, near Barcelona, Spain. The investment is intended to support growth in the United States.
- Why
- To back Europastry’s growth plans in the United States.
This story does not have two clearly opposing sides.
Europastry’s planned stock-market listing failed.
Europastry completed its purchase of Highland Baking.
Cofides’s €49.6 million investment in Europastry was reported.
- Cofides investment
- €49.6 million
- Capital increase
- €300 million
- Highland Baking purchase price
- About €700 million
- Highland Baking sales
- About €230 million
- Gallés family stake after capital increase
- Around 67%