Our recent food and beverage deals
Clearwater International advises MCH Private Equity on the acquisition of a shareholding in Grupo Brasmar
Clearwater International has advised MCH Private Equity, one of Spain’s largest independent private equity houses, on the acquisition of a shareholding in Grupo Brasmar (Brasmar), a leading Portuguese frozen seafood company.
Brasmar is a fast-growing company based in Portugal, with a significant presence in Italy, Brazil and Spain. The business expects to generate revenues in excess of €150m over the course of 2016.
The investment from MCH Private Equity in Brasmar will support the international expansion of the company.
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.
The Real Yorkshire Pudding Company sold to Go2 Foods
Clearwater International has advised the shareholders of The Real Yorkshire Pudding Company (RYP) on its sale to Go2 Foods, a newly established investment vehicle.
Founded in 1991, RYP supplies many of the major food retailers and national wholesalers as well as other food manufacturers. The business has recently introduced a gluten-free range and produces about 100 million puddings per annum from its 43,000 sq ft factory in Thorne, near Doncaster.
Go2 Foods was founded by experienced food industry executives Paul Simmonds and Rob Davies, the former CEO and co-founder of UK snacks group Glisten.
“Thanks to Rob & the team for their assistance and advice over the last few years. The support and dedication we have received has been excellent, at times going beyond the call of duty. The team’s professional and pragmatic approach achieved an impressive result for us and we would happily recommend them.”
Paul Holmes, Founder, The Real Yorkshire Pudding Company
Corpfin Capital invests in Secna
Clearwater International has advised Corpfin on a 51% equity investment in Eurogamma SpA group, whose main subsidiary is the Spanish company Secna.
Valencia-based Secna specialises in the manufacture of natural colours for the food & beverage industry, particularly the production of red and dark tones produced from raw materials such as grapes, black carrot and caramel. The production of natural ingredients for the food & beverage industry is a developing market fuelled by growing consumer awareness and increasingly strict regulation globally regarding the inclusion of flavours and synthetic colours in foods. Eurogamma also has other operating subsidiaries and production facilities in Italy and Turkey. In 2014, the group achieved consolidated sales of over €50m and is present in over 70 countries.