Baking Dynasty to Mint $900 Million Fortune With Europastry IPO
From humble beginnings in a village near Barcelona, the Gallés family has created a baking behemoth with a global reach.
Europastry had revenue of €1.4 billion in 2023.
Photographer: Angel Garcia/BloombergWhen Francesc Gallés opened a bakery in 1862 in Castellterçol, a small town outside of Barcelona, little could he have imagined that three generations on his family would be running one of Europe’s biggest frozen bread giants, with operations in 80 countries around the world.
Supplying bread and pastries to the likes of Starbucks Corp., Dunkin’ Donuts LLC and Pret A Manger, the Gallés of Catalonia now run a company called Europastry SA — with annual revenue exceeding €1 billion ($1.1 billion). As the family prepares to list the company, it’s inching closer to becoming Spain’s first billionaire baking clan.