Grupo Iberconsa acquired by Portobello Capital

Clearwater International has advised frozen food leader Grupo Iberconsa on the acquisition of a majority stake in the company by Portobello Capital.

Grupo Iberconsa is one of the top three frozen seafood companies in Spain and the world leader in fishing and processing on-board frozen hake. It is a vertically integrated company, covering the fishing, manufacturing, distribution and marketing of frozen seafood products; in addition to hake production, it also focuses on squid and shrimp.

Vigo-based Iberconsa exports 45% of its sales through multiple channels, especially retail and food service groups. The company’s fleet includes ships in Argentina, Namibia and South Africa. It also has processing plants in Argentina and Namibia: the latter was renovated recently following a large investment. It also owns a wide network of retail stores and a stake in two refrigeration units in the Spanish region of Galicia.

Portobello Capital is a leading independent mid-market Private Equity manager in Iberia. Its Fund III, used for this purchase, is the largest fund to be raised in Spain in recent years. Portobello recognises that in both the fishing and marketing areas of the frozen seafood sector there are big opportunities for consolidation and growth thanks to consumption trends and due to its nutritional quality fish protein is growing significantly within the food industry.

The management team – including the chairman and founder Mr. David Ramos and Mr. Alberto Freire, CEO – will remain in the Company to help support its growth plans.

  • Image of Grupo Iberica de Congelados SA (Iberconsa) Company Logo
    vendió una participación mayoritaria a
    Image of Portobello Capital Company Logo
    Mandato de Venta
    No divulgado
    View Back of Transaction
    Asesores de Clearwater

    Asesor de Grupo Iberica de Congelados SA (Iberconsa) en la venta de una participación mayoritaria a Portobello Capital

    Ver más