MEXICO CITY, MEXICO — Grupo Bimbo SAB de CV has reached an agreement to acquire Panrico SAU in Spain and Portugal. The acquisition includes 100% of the company’s shares, excluding the branded packaged bread category.

Founded in 1962, Panrico produces and distributes donuts and other bakery products for customers in Spain and internationally. With the acquisition, Bimbo would add 16 facilities in Spain and three in Portugal.

“The transaction is conditional upon the result of due diligence, signing a final acquisition agreement and the receipt of customary regulatory approvals,” Bimbo said.