Spain’s Grupo Apex has expanded its snacks portfolio with the acquisition of the brand and assets of Uriarte Iturrate.
Grupo Apex said it has bought the assets, including a manufacturing plant and warehouse in Murgia based in the province of Álava, after Uriarte Iturrate entered bankruptcy proceedings.
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Machinery, trademarks and patents also form part of the deal, which gives Grupo Apex its 13th production facility, the Spanish company said in a statement today (8 September). Financial terms were not disclosed.
Grupo Apex said it also inherits from Uriarte Iturrate a new and patented microwave technology, which “allows for the preparation of snacks based on nuts, dairy products, meat, fruits, or vegetables without the need to add fat”.
The tech delivers snacks that are 100% clean label, for example the Air Nuts brand which is part of the Uriarte Iturrate agreement, and which will open up opportunities for new business at home and overseas, Grupo Apex added.
Seven Uriarte Iturrate employees versed in the technology will transfer over.
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By GlobalDataSantiago Sala, the CEO of Grupo Apex, said: “This addition fully reflects our vision of growth and innovation, reinforcing our commitment to healthier, more natural, and sustainable snacking.
“Microwave technology is a unique advancement that will allow us to develop completely differentiating products with high added value for our consumers.”
Grupo Apex has been active in M&A in recent years to help deliver an annual turnover of €180m ($211.1m). Headquartered in Ribaforada, Navarra, Grupo Apex now has around 850 staff.
Its snacks portfolio includes the likes of Aspitos, Jumpers, Popitas, Marinas, Vicente Vidal and Pop Up.
Earlier this year, Grupo Apex added local peer Chavez y Clark and the SuperMex line of corn and wheat tortillas to its stable of brands.
Local snacks manufacturer Tot Snack was taken on board last year and in 2023 crisp maker Santo Reino was purchased, the maker of the Aspitos, Jumpers and Popitas brands.
