Spain’s Noel Alimentaria has purchased a 25% interest in fellow Iberian meat company Garrudo Benito.
Financial terms of the deal were not disclosed as Noel said in a statement that it plans to increase its holding in family-owned Garrudo Benito to 50% by 2028 through a phased process.
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The acquisition is intended to “secure and expand” Noel’s presence in Iberian meats and secure supply of raw materials for both fresh and processed products over the medium and long term, Noel added.
Albert Boix, managing director of Noel, said: “With this alliance, we are consolidating a project that combines tradition, quality and an international outlook. Garrudo brings excellence, expertise and distinctive, premium products.”
Founded in 1967, Piedrahíta-headquartered Garrudo Benito has ties to the UK market via Marks & Spencer.
Garrudo Benito said it operates the only Iberian pig slaughterhouse and cutting plant approved by the UK retailer.
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By GlobalDataNoel produces and distributes cooked and cured ham, charcuterie, and fresh meats, along with ready-made products such as pizzas, vegetable creams and juices.
Its brand portfolio includes Delizias Finas, Delizias Pétalos, and Fuet/Serrano.
The Sant Joan les Fonts, Girona-based ham producer added that the collaboration with Garrudo Benito aims to double Iberian product sales and support international expansion.
In the statement, the companies pointed to rising consumption of Iberian ham in Spain and overseas, with an emphasis on 100% acorn-fed products.
Their investment plans include a new curing facility in Piedrahíta, designed with a capacity of 500,000 Iberian hams per year.
Furthermore, the partnership includes joint development of products and formats, including sliced items, to cater to gourmet and mass retail channels in Spain and for export markets.
Just Food has asked the two companies for more details on the overseas markets they currently supply to, the destinations they plan to target, and their annual revenues.
María Garrudo, managing director of Garrudo, said: “This collaboration allows us to combine our tradition and know-how in producing Iberian products with Noel’s international reach, and to open up new market opportunities to continue offering products of the highest quality”.
