{"id":229599,"date":"2024-01-15T12:15:18","date_gmt":"2024-01-15T11:15:18","guid":{"rendered":"https:\/\/www.tapasmagazine.es\/economia-manolo-bakes-eleva-sus-ventas-un-30-en-2023-y-da-entrada-al-fondo-vgo-para-abordar-su-internacionalizacion\/"},"modified":"2024-01-15T16:38:20","modified_gmt":"2024-01-15T15:38:20","slug":"manolo-bakes-closes-2023-with-30-more-sales-and-sets-sights-on-international-expansion","status":"publish","type":"post","link":"https:\/\/www.tapasmagazine.es\/en\/manolo-bakes-closes-2023-with-30-more-sales-and-sets-sights-on-international-expansion\/","title":{"rendered":"Manolo Bakes closes 2023 with 30% more sales and sets sights on international expansion"},"content":{"rendered":"\n

Click here<\/a> to read the Spanish version.<\/strong>
Manolo Bakes<\/a> has managed to position itself as one of the favorite brands, especially thanks to its iconic ‘manolitos’. Born in December 2017, the company has been growing year after year, reaching 42 stores in Spain during 2023, increasing its sales by 30% last year alone, which represents a turnover of 32 million euros. Likewise, this year it will put its focus on international expansion.<\/p>\n\n\n\n

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In addition, Manolo Bakes has started 2024 receiving the financial support of VGO Capital, an institutional private equity fund manager, through a corporate operation whose valuation is estimated to be close to 60 million euros. This operation also implies the exit of the Manzano family from the company’s shareholding, so Manolo Bakes becomes the owner of the original brand of the ‘manolitos’. The company is currently led by Pablo Nu\u00f1o and \u00c1ngel Terr\u00e9s, as co-founders and co-CEOs, and Jos\u00e9 Antonio del Castillo, as CEO.<\/p>\n\n\n\n

100 stores in Spain and international expansion<\/h2>\n\n\n\n

In addition, this financial support will enable the company to set itself the objective of boosting its expansion, not only within Spain, but also internationally, specifically in markets such as the United States, Latin America, the Middle East and Portugal. In the latter its landing will be imminent, since it has recently signed a commercial agreement with a local partner for the opening of more than 15 stores in the next 3 years, foreseeing the opening of the first two of them in Lisbon during the first half of the year.<\/p>\n\n\n\n

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A post shared by Manolo Bakes (@manolo_bakes)<\/a><\/p><\/div><\/blockquote>