M. Dias Branco, Brazil's largest pasta and biscuit maker, has agreed to acquire 80% of Grespan Pães Congelados, a frozen bread producer from Marília in São Paulo state, the company said on 16 October. The price was not disclosed.
Why M. Dias Branco (via Jasmine) is buying Grespan Pães Congelados – 80% stake
M. Dias Branco said the deal strengthens its presence in bakery, which it described as a resilient, fast-growing and still fragmented market. Executives said Grespan's model of frozen production, own logistics, equipment supply and technical support closely matches its own, and is increasingly valuable to customers facing a shortage of skilled bakery labour.
Deal terms and financing
The purchase is being made through Jasmine, a subsidiary of M. Dias Branco. The contract gives an option over the remaining 20% within five years of closing, and founders José Marcos Grespan and Marlene Tereza Grespan Ferrari will remain in the business for up to five years.
Regulatory approvals and timing
Gazeta Mercantil reported that completion depends on conditions precedent set out in the contract and on applicable approvals.
Market context
NeoFeed reported that it is M. Dias Branco's first acquisition since October 2022, when it bought the owner of the Uruguayan pasta brand Las Acacias. The company puts Brazil's bakery sector revenue at about R$164bn in 2025.
