The formal entry of a new ownership arrangement for Agricola Villena was recorded in the Trade Registry Official Gazette (Borme) this Monday, marking a significant shift in governance for the former cooperative. The publication details the replacement of the previous board with a single manager, Javier Garcia Pellejero, who now serves as the company’s president. This move comes as part of changes driven by the mutual fund that is taking a more active role in the company’s future. (Attribution: industry press, translated report)
Interest from ProA, a fund focused on agribusiness investments, emerged from Villena, among the cooperative’s suppliers for Mercadona, a major supermarket chain in Spain. The deal had been in the works since June, with the formalization happening at the start of August after a period of swift adjustments aimed at ensuring the company’s viability. (Attribution: market briefing, translated report)
The sequence of events follows the closure of Agricola Villena late last year, a consequence of reduced activity and rising costs. Management at that time even explored an ERTE for the company’s roughly 300 employees. In response to social pressure and a broader push for stability, Mercadona agreed to a direct purchasing arrangement with the firm, bypassing Anecoop, in a bid to bolster ongoing operations and preserve employment. (Attribution: industry analysis, translated report)
This adjustment provided Agricola Villena with a window of opportunity to seek a new investment partner capable of injecting the capital necessary to fund modernization and product development. ProA Capital de Inversiones emerged as this partner, with plans to deploy up to 10 million euros to update facilities and expand product processing capabilities. (Attribution: investment update, translated report)
Complementing the capital injection, the new ownership framework required staff negotiations. The plan includes the dismissal of 30 workers and the permanent transfer of 70 additional employees to a discontinuous working arrangement. (Attribution: corporate restructuring note, translated report)
ProA Capital de Inversiones stands out as a major private equity player in Spain, managing approximately 1.5 billion euros. The fund brings extensive experience in the agri-food sector and holds stakes in several well-known brands and producers, reflecting a broader strategy of supporting value-added agricultural businesses through capital and governance support. Agricola Villena originated as a cooperative in 1986 and transitioned to a joint-stock company last year to facilitate new investment and simplify governance for future growth. (Attribution: fund profile, translated report)