Grupo Alacant Expands Through Strategic Acquisition Talks

Grupo Alacant, one of Spain’s largest ice cream producers and a key supplier to major retailers, emerged in the news with a proposed sale to the Turkish investment fund Afendis. The announcement highlighted the group as a cornerstone of the sector, with a substantial network of partners and a strong history of artisan roots dating back to the joining of 35 ice cream masters who began the cooperative effort in 1972.

From this point forward, Afendis will conduct due diligence, a careful review of the company’s accounts and assets, before confirming a definitive purchase offer. This step is standard in large acquisitions and helps both sides understand the value and potential risks involved.

Grupo Alacant’s board communicated the development to the shareholders during a meeting in October. After receiving a purchase proposal, the board initiated consultations to determine whether Turkish financing would be accepted and to scope the decision-making process.

The group’s shareholders number about 250, many of whom are artisan ice cream makers or descendants of the founders, reflecting the company’s cooperative origins tied to the 1972 collective decision to produce together.

The group’s vegan ice cream varieties.

The company has evolved into a major player in Spain, maintaining a substantial role as a Mercadona supplier and continuing to manufacture a large portion of its lines for private label and its own brands.

A few years ago, the company pursued expansion by acquiring the Hungarian firm For U Free From, expanding its vegan lineup with lupine-based recipes and leveraging that firm’s strengths in the British market. In addition to expanding internationally, Grupo Alacant broadened its footprint within Spain by acquiring the rival operation La Galeta Ridges in 2021. The Madrid-based company owned brands Somosierra Ice Cream and Royne, which were integrated into the Grupo Alacant portfolio.

With this strategic move, the San Vicente-based company gained access to a wider national distribution network, including major retail channels such as El Corte Inglés, Dia, and Carrefour, further strengthening its already significant presence on Mercadona shelves. Grupo Alacant had previously expanded through an acquisition in 2009, consolidating its European footprint.

The group currently operates four production facilities distributed across Spain and employs more than 650 people. It develops and markets a broad range of products, from handmade creams and cones to chocolates, sandwiches, and slushies, serving mass consumers and specialized ice cream shops alike. The Group’s own brands include Helados Alacant, Antiu Xixona, 4U Free From, Somosierra, and Royne Private Line.

View of the Grupo Alacant factory in San Vicente del Raspeig.

Helados Alacant creates a new giant in the industry by acquiring Royne

This acquisition elevated the company’s distribution reach and strengthened its national footprint, aligning with retailer networks and expanding its collaboration with major supermarkets. Grupo Alacant had previously acquired the Murcian company in 2009 as part of its regional consolidation strategy.

The group now operates four production sites across the country and employs more than 650 people. It produces and markets a wide array of products, spanning bespoke creams to cones, chocolates, sandwiches, and frozen beverages for both mass consumption and specialist ice cream parlors. Its portfolio features Helados Alacant, Antiu Xixona, 4U Free From, Somosierra, and Royne Private Line brands.

View of the Grupo Alacant factory in San Vicente del Raspeig.

Billing

Following the integration of La Galeta, the Alicantinas del Helado y Derivados SA group closed the 2022 financial year with strong performance. The consolidated accounts show a turnover of 176.5 million euros and a profit of 179,000 euros, reflecting a notable increase from the previous year. For the current financial year, the group anticipates billing above 230 million euros, a projection supported by interviews with the company’s Chief Innovation Officer in recent coverage.

Briceño (Grupo Alacant): “We expect to close the year with sales of over 230 million”

Afendis stands as a Turkish investment group with expertise in the pharmaceutical and food industries. Its portfolio includes Sanovel, a producer of cookies, cereals, snacks, and pasta, as well as Cerealto and Gelato d’Italia, an Italian specialist in high-value ice creams distributed across more than 40 countries. The potential partnership signals a strategic cross-border expansion for Grupo Alacant and a broader footprint for Afendis in the European ice cream sector.