Spanish buyout fund Dinamia is eyeing food acquisitions in Spain and Portugal, investor relations director Jose Parejo confirmed to just-food today (24 February).
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The fund, run by Madrid-based private equity firm N+1, will seek to invest EUR50m-EUR100m (US$63.7m – $127.4m) in “cash-flow generating” small and mid-size firms.
Parejo would not comment on whether Dinamia would consider investing in dairy group Pascual, which is said to want to sell a 30% stake to raise EUR120m.
Last week, Spanish buyout firm Ibersuizas denied any interest in the dairy company while UK rival 3i would not comment.
Dinamia said it expects attractive investment opportunities to emerge from the economic crisis as struggling corporates sells assets to cut debt.
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By GlobalDataAccording to N+1 executives, several global industrial groups are considering Iberian acquisitions to enter or boost their presence in key markets. Dinamia will invest in companies that it can eventually re-sell to these groups at “a control premium” price.
