Unión Martín has 4 freezer fishing boats in Morocco
Alantra invests nearly EUR 80 million in Unión Martín
SPAIN
Friday, March 16, 2018, 22:00 (GMT + 9)
Investment funds seek profitable investment segments with prospects for the future and constant cash generation. And the fishing processing industry meets all three requirements.
The entry of Portobello in Iberconsa or of GED in Discefa will be added to that of Alantra, which completes the purchase of Unión Martín, one of Mercadona's main fish distributors. As El Economista developed it and sources of the industry verified it, the operation will be between EUR 70 and 80 million.
The entry of this type of operators in the sector favour what Mercadona is looking for: operators with presence in origin and with sufficient volume to supply the demand of Juan Roig chain.
Unión Martín is of Canarian origin and has a "broad portfolio", according to the same sources. Its turnover is around EUR 100 million, in a range in which Galician capital firms such as Fandicosta or Marfrío operate and to which Ángel López Soto (Alfrío Group) aims to join, after last year when it billed more than EUR 80 million.
Investment funds also offer financial leverage to gain installed capacity and a way out for shareholders of family businesses not linked to management. Experts predict an increasingly relevant weight of this type of institutions in the industry, which in Galicia has an average turnover of less than EUR 30 million, according to the latest data offered by the association Conxemar.
Previously, Alantra had already bet on the food industry with operations in Ubago (fish cannery from Malaga), Europastry or Alvalle.
Source: Lara Graña / Faro de Vigo
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