Spanish seafood supplier Iberconsa could soon be the subject of a takeover, with local reports claiming the business’ owners are looking to sell.
The company, formally known as Ibérica de Congelados, is majority-owned by Spain-based private-equity firm Portobello Capital after a deal in 2015.
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Iberconsa’s founders own the rest of the business and are also looking to sell, Spanish business publication Cinco Dias has reported
Nomura has been hired to look into a sale, with an initial assessment of Iberconsa’s valuation at EUR600m (US$739.4m), the newspaper said.
just-food approached Portobello for comment but the buy-out house had not returned a request for comment at the time of writing.
Iberconsa is said to be one of the top three frozen-seafood companies in Spain. It is a vertically-integrated business, covering fishing, manufacturing, distribution and marketing. Its main product lines are hake, squid and shrimp.
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By GlobalDataVigo-based Iberconsa exports 45% of its annual sales.
