Europastry Acquired by Ares — Consumer M&A

Ares has acquired Europastry, a food beverage retail business in Spain, for $148m. Europastry is a frozen baked goods producer focused on bakery products sold across Spain and Portugal, supporting consumer M&A in the food sector. Ares acquisitions in consumer M&A target stable demand for packaged bakery items, aligning with a private equity acquisition strategy in frozen foods. The announced add on acquisition is structured as a continuation fund, with Ares as a private equity buyer pursuing an add on acquisition within its broader food beverage retail portfolio. Deal size is reported above $100m, with final terms and close date not disclosed.