24 January 2008 - Lotus Bakeries acquires its Spanish importer, López Market.
The López Market company, situated near Madrid, sells waffles, cakes, pastries, caramelized biscuits and other original specialities on the Spanish market. The most important distribution channel for its products is retail outlets, more specifically supermarkets and hypermarkets. Lotus Bakeries has already been the most important supplier to López Market for several years.
Angel López, the current manager of López Market, will take responsibility for the Lotus Bakeries’ Iberica Sales Office . Lotus Bakeries wants to use this acquisition to further intensify the growth of recent years in Spain.
López Market employs 15 people. In 2008, the company expects to turnover almost EUR 3 million and return an operating profit of some 5% of turnover. The company will be consolidated with effect from 1 February 2008.