NEWS



  • 24/10/2019

    Cerea Dette II makes two new investments in Spain

    Cerea Dette II makes two new investments in Spain, financially supporting the transfers of Palacios and Pastas Gallo groups.


    With these two new investments, the Cerea Dette II Fund totals 3 investments in the Spanish territory, in line with its international expansion.


    These two investments also form the 9th and 10th private debt investments of Cerea Partners since the beginning of the year.


    Cerea Dette II financially supports the Spanish fund MCH in the buyout of the Palacios group from Carlyle


    Founded in 1960, the Palacios group produces ready-made meals and fresh, convenient food and frozen Spanish specialities. Spanish leader in the omelette, chorizo, pizza and frozen dessert markets, the group has a presence in Spain, where it generates the major part of its turnover, but also internationally, notably in France, the U.S. and Portugal.


    Palacios has a wide client portfolio built around historical commercial relationships, and from industrial performance which confers its unique production capacity to support its development in different sectors.


    Gifted by an experienced management team, Palacios has been able to capture the growth of the tortilla market and has consolidated his position in the more mature chorizo and pizza sectors.


    Owned by Carlyle since 2015, the Palacios group was acquired by the Spanish fund MCH in July 2019. Against this background, Cerea Dette II took part in the financing of this acquisition.


    Cerea Dette II takes part in the acquisition of Gallo group by the Spanish fund ProA Capital from the Espona Family


    Founded in 1874 in Barcelona, the Gallo group is the Spanish leader for dry pasta. The group has a wide portfolio of convenient food under Gallo's own brand and distribution brands, mainly dry pasta but also flour and convenient sauces. Gallo also makes fresh products, fresh pasta and fresh sauces, and semolina.


    The group is well-known and became a leading player in the Spanish pasta market which has been growing for several years. Owing to its industrial performance and gifted by its strong production capacity, the group is well positioned to capture future market growth.


    Owned by the Espona family since 1946, the group was sold to the Spanish fund ProA in October 2019. Cerea Dette II is financially supporting the buyout of the group by taking part in the set-up for acquisition.


    ABOUT CEREA PARTNERS


    Established in 2004, Cerea Partners supports SMEs across the Agrobusiness sector (companies along the agro-food value chain, including: food, agro-industry, distribution, catering, equipment, packaging, logistics and associated services) in their industrial, commercial and geographic development through both organic and external growth.


    Cerea Partners has raised 1.4 billion euros from institutional investors and has invested in nearly 130 transactions. As the partner of choice of Agrobusiness companies, Cerea Partners provides tailored financial solutions ranging from buyout to mezzanine and senior debt financing.