SPAIN - Panrico sells 50% its shares in Dunkin Donuts

Upon completion of the deal, the US-based food producer will own 100% of the brand Dunkin Donuts, which will see a re-branding process and the incorporation of the chain's international business model.

Under Apax's guidance, Panrico has undergone a rigid program of disposal of non-core assets and relaunch of product lines in Spain and Portugal. Earlier this year, the company sold four of its factories to pan-European investment fund Matrix European Real Estate Investment Trust. The factories are located in Paracuellos de Jarama (Madrid), Murcia, Valladolid and Córdoba. The company will continue using the production facilities and will keep its staff thanks to the settling of rental agreements for the next 25 years. Panrico is one of the main players of its segment in the Iberian Peninsula; the company posted an EBITDA of EUR 96m in 2006.

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