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June 8, 2011

SPAIN: Garavilla’s Cuca buy will “solidify position”

Spain's Conservas Garavilla has said its takeover of family-owned rival Conservas Cuca is "one step more" in consolidating its position as a "national leader" in the country's canned fish sector.

Spain’s Conservas Garavilla has said its takeover of family-owned rival Conservas Cuca is “one step more” in consolidating its position as a “national leader” in the country’s canned fish sector.

Conservas Garavilla, a unit of holding company Garavilla Group, is best known for its canned fish brand Isabel. The firm said that the move is expected to strengthen the company in “traditional” categories such as canned tuna, sardines and mussels. It also aims to expand its presence in other categories, such as salads and prepared dishes.

With the takeover, Pais Vasco-based Garavilla Group’s annual profits should reach EUR280m (US$410.8m) per year.

“The market is demanding consolidation and the new group will be recognised for the quality of the products from Cuca combined with the innovation of Isabel,” said Garavilla chief executive Juan Corrales. “Now it is more complete with a better potential for growth.”

The new group has four production plants in Spain, one in Morocco and one in Ecuador. With the acquisition, Garavilla Group will have staff of 2,650 employees.

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