Spanish food group Nueva Rumasa is on the brink of buying two small domestic rivals with sales ranging from EUR100-EUR200m (US$125.8-251.7m), a company official confirmed on today (2 March).
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The spokesperson said the firm, which owns the leading Clesa milk brand, is in “advanced talks” to make the purchases in the food and wine sector in the next few months.
The move will be funded by a share offering, which was launched last month.
According to the official, Nueva Rumasa is also eyeing another 30 companies.
Spain’s deep economic crisis is not denting the fortunes of Nueva Rumasa, which claims Clesa’s sales are up 20% over last year and that other divisions are performing well.
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By GlobalDataWith sales nearing EUR1bn, Nueva Rumasa owns dairy firm Clesa, frozen-foods brand Dhul, Fruco juice and many other established brands.
