Alantra Private Equity has acquired a majority stake in Frías Nutrición, a Spain-based producer of vegetable beverages, broths, creams and other health products. No financial terms were disclosed.
Madrid, 11 February 2019 – Alantra Private Equity fund has signed the acquisition of a majority stake in the capital of Frías Nutrición (“Frías”). The management team will continue to be a relevant shareholder in the company, maintaining its involvement in the management and daily operations of the business. The deal is only subject to approval by the competition authorities. This transaction will be the seventh deal closed by Alantra Private Equity Fund III.
Founded in 1919 and headquartered in Burgos (Spain), Frías is the national leader in production and distribution of vegetable beverages (oats, soybeans, almonds, coconut and rice), broths, creams and other healthy products, mainly for the Private Label segment.
Frías Nutrición stands out for its solid commercial relationship with leading Spanish food retailers and its ability to adapt products to the specific requirements of each client, offering an unequalled level of quality, service and innovation.
With a turnover of 60 million euros and an excellent growth profile, Frías Nutrición has more than 130 employees and a production plant in Burgos.
The company has outstanding growth perspectives driven by the increasing popularity of healthy food and beverages among consumers around the world.
Frías Nutrición’s growth plan relies on the consolidation of its leadership position in the domestic market by launching new products in the categories where it already operates and in other adjacent ones, as well as developing its international presence. Alantra Private Equity’s financial and strategic support will enable it to undertake the necessary investments for this organic plan and explore inorganic growth opportunities.
Current management team will remain at the forefront of the project, guaranteeing the continuity of the business to its clients and, most importantly, ensuring its future growth perspectives. The CEO Victor Frías states: “with Alantra’s support we have greater resources to face the new projects we have underway, to be able to play in the market at the speed currently demanded and to be able to develop the internationalisation plan with their support and experience”.
Bruno Delgado, Partner at Alantra Private Equity, points out: “We are really impressed by the recent transformation carried out by the management team, from a traditional and more mature business such as dairy to a healthy vegetable food business with solid growth dynamics. From now on, we hope to be able to support them in accelerating growth, both domestically and internationally, but always betting on innovation”.
The terms of the operation are confidential.
Advisors to Alantra Private Equity: DC Advisory (advisor for the financing), Garrigues (legal), KPMG (commercial, financial, tax, labour and legal due diligence), Marsh (insurance) and ERM (ESG).
Advisors to sellers: Santander (M&A advisor), Uría (legal).
About Alantra Private Equity
Alantra Private Equity enjoys over 25 years of experience, having invested €1.4bn in more than 80 companies since inception. Alantra PE is specialized in investing in upper mid-market companies based in the Iberian Peninsula, with attractive growth and consolidation plans and a visible internationalization strategy. Alantra PEF III will be closed to 60pct invested following this seventh Fund investment in Frías Nutricion
Alantra is a global Investment Banking and Asset Management firm focusing on the mid-market with offices across Europe, the US, Asia and Latin America.
The Asset Management division has €4.5bn of AuM in Private Equity, Active Funds, Private Debt, Real Estate and Wealth Management.