MONTREAL — Lallemand Inc. has completed the acquisition from AB Mauri of the GBI baker’s yeast business in Spain and Portugal. Included in the acquisition is a yeast production plant in Setubal, south of Lisbon, Portugal.

Lallemand said the acquisition gives the company a significant presence in the Iberian baker’s yeast market. With the acquired unit’s staff, brands and production capacity, Lallemand said it also hopes to compete more effectively in the French market as well as in the world dry yeast market.

Based in Canada, Lallemand is a privately held company specializing in the research, development, marketing and distribution of yeast and bacteria. The company’s 2,000 employees are located in 30 countries around the world. Its Lallemand/America Yeast business operates plants in Memphis, Baltimore and Montreal.

In recent years, the company has made a number of international acquisitions with transactions in Denmark, Poland and South Africa.