Royal model proprietor Copesco & Sefrisa will get new proprietor
Spain-based seafood group Angulas Aguinaga, majority-owned since final autumn by multinational private-equity agency PAI Companions, has landed the acquisition of home peer Copesco & Sefrisa.
Monetary phrases on the deal weren’t disclosed. Angulas Aguinaga, primarily based within the northern Spanish metropolis of San Sebastián, mentioned Copesco & Sefrisa, headquartered simply outdoors Barcelona, is “the main model out there for smoked merchandise, refrigerated cod and fish roe within the Spanish market”.
Copesco & Sefrisa, which markets merchandise underneath manufacturers together with Royal, “has doubled gross sales lately”, Angulas Aguinaga mentioned in its assertion to announce the acquisition, with out offering additional particulars.
Ignacio Muñoz Calvo, the CEO of Angulas Aguinaga, added: “This buy is an important step as a result of it provides us a management place in two key classes comparable to salmon and cod.”
Angulas Aguinaga, already residence to manufacturers together with Aguinamar and La Gula del Norte, offered a majority stake in itself to PAI Companions in November. The corporate had been managed by Spanish private-equity agency Portobello Capital since 2006. PAI acquired its stake from Portobello and the founding household. Portobello and the founding household proceed to carry a mixed 49.9% stake.
In 2019, Angulas Aguinaga generated a turnover of EUR220m (US$262.2m). The corporate is aiming to double that stage of turnover by 2025. Final yr, Angulas Aguinaga bought a majority stake in Riunione Industrie Alimentari, a salmon enterprise in Italy.
Joan Ignasi Monfort, the CEO of Copesco & Sefrisa, mentioned: “We’re excited to affix forces with Angulas Aguinaga to develop much more and take this challenge even additional. We need to add our high quality, capability for innovation and expertise to a profitable challenge.”