PRINT THIS PAGE Apax Partners acquires Iberian bakery company Panrico04/08/2005. Source: AltAssets. 
 Global private equity firm Apax Partners has acquired a majority shareholding in Iberian bakery company Panrico from the Costafreda family, La Caixa and other minority shareholders.
Panrico, founded in 1961, focuses on the value added branded pastries and sliced bread categories, where it operates under pre-eminent brands such as 'Donuts', 'Panrico', 'Bollycao' and 'Donettes'.
Nicolás Bonilla, head of Apax Partners Spain, said, 'Panrico is a leader in each of its business segments, both in Spain and Portugal. Panrico's unparalleled product mix, highly diversified customer base and unique distribution network offer significant growth prospects. Apax has every confidence in the current management team, who will continue leading the company.
'Panrico is our funds' fifth investment in Spain in the last two years,' Bonilla continued.
Apax operates across the United States, Europe and Asia. The firm has raised or advised approximately $20bn and pursues a multi-stage equity investment strategy, investing in late stage venture, growth capital and buy-outs. Apax Partners' funds invest in companies in the telecommunications, IT, retail and consumer, media, healthcare and financial/business services sectors.
Apax recently closed its sixth buy-out fund with commitments of €4.3bn. The closing exceeded the fund's target of €4bn but was short of the hard cap of €4.5bn.
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