One of the most emblematic food companies, both nationally and provincially, like Aceitunas El Serpis is about to change hands. Venture fund Miura Partners visualizes the company in Alcoyand is expected to formalize a deal in which it will be the main shareholder in the coming weeks. The main purpose of the operation is Accelerate the firm’s growth and international expansionwith healthy accounts. Facilities will remain in Alcoy and the founding family will continue to operate, albeit with a minority stake.
El Serpis olives, in fact, is a trademark of Cándido Miró, a food group, a food group in 1926, when businessman Cándido Miró Rabasa, until then dedicated to the textile industry, decided to sell his machinery to innovate and devoted himself to the production and marketing of olives stuffed with anchovies. Since then, the company has not stopped growing by acquiring other pickles that serve to expand its markets and compete against other giants in the same industry, such as La Española, also in Alcoy. The company is healthy, as evidenced by the fact that its turnover has not stopped growing in recent years, even in the midst of a pandemic. Reaching records exceeding 40 million euros and over 3 million benefits.
This situation did not go unnoticed by Barcelona-based Spanish venture capital fund Miura Partners, which has been in talks with the current owners of the company to become the majority shareholder in recent months. In fact, and according to referenced sources, The operation is expected to close at the end of this year or the beginning of the following year., for an amount that has not yet been revealed, but it could be around 50 million euros. Confirmed that the company will keep its headquarters in Alcoy, where it also has its manufacturing headquarters, and The Miró family will remain shareholdersalbeit with a minority stake.
The law firm Gómez-Acebo y Pombo intervened in the operation, which, as he himself admitted, was advising the food group during the sales process. The main objective outlined by this transaction is to strengthen the export activity of the firm, given that it is now. 80% of Aceitunas El Serpis business remains in Spainand the desire is to explore the enormous growth possibilities offered by international markets. To do this, the company will be able to take advantage of the client portfolio that is the result of its holdings in other companies, which already has a significant foreign dimension, and the multiple connections of Miura Partners.
Investments
And the said fund, Citri&Co, food; Italcer, ceramic; LED effect lighting; Gloval, consulting; Tekman, education; Terrals Medical, dental health; Brokers Alliance, insurance; or Indiba for radiofrequency treatments, among others. Miura Partners, an expert in joining companies with growth potential Has made more than 40 investments since 2008 and currently has €1,000 million in assets under management.
Source: Informacion
Christina Moncayo is a contributing writer for “Social Bites”. Her focus is on the gaming industry and she provides in-depth coverage of the latest news and trends in the world of gaming.