Lantmännen Unibake, one of Europe's leading frozen bakery product suppliers, acquired the St. Petersburg, Fla.-based bakery Euro-Bake, establishing its first production facility in the United States.
All Unibake products are currently made in Europe and shipped to the U.S., which has become one of the company's fastest growing markets. In 2007, Unibake experienced 25 percent growth in sales in the U.S. market.
“The demand for Lantmännen Unibake's products is on the rise in the United States and everything suggests a strong potential for continued growth,” said Scott Kolinski, president of Lantmännen Unibake's U.S. operations. “The acquisition of Euro-Bake fulfills an important link in the long-term growth strategy for Unibake — part of which has been to acquire a baked goods producer with facilities in the United States.”
With the acquisition, Euro-Bake will change its name to Lantmännen Unibake. Euro-Bake's current product lines, which are European-inspired bread products, such as ciabatta buns, baguettes and focaccia bread, will continue to be produced under the Lantmännen Unibake name. The bakery will gradually build production capabilities to include Unibake offerings as well, particularly Danish pastry products and French-style croissants.
This acquisition will not result in any layoffs or personnel reductions at Euro-Bake, Kolinski added, who will assume executive responsibility following the acquisition.