Spain-based seafood group Angulas Aguinaga has acquired Italian peer Deligusti for an undisclosed sum.

Angulas, majority-owned by multi-national private-equity firm PAI Partners, said the deal will “consolidate its commitment and projection for the Italian market, taking a further step in the company’s internationalisation plans”.

Deligusti was founded 25 years ago and its headquarters are near Milan. It provides marinated seafood, including anchovies, sardines, octopus and prawns, and added-value products such as chili peppers stuffed with spicy tuna. It operates mainly in Italy, with 85% of its sales being domestic and the remaining 15% international.

Angulas said the deal fits in with its 2020-2025 strategic plan announced last year and allows it to expand the range of fish products in brands such as La Gula del Norte, Krissia and Aguinamar.

Its CEO Ignacio Muñoz said: “At the end of 2019, we started our roadmap for internationalisation in the Italian market with the purchase of the Riunione company. With the incorporation of Deligusti, we are taking a qualitative leap, consolidating our position in Italy with a large portfolio of products and a presence in the main distributors.”

Deligusti CEO Umberto Spreafico said “the experience of Angulas Aguinaga in the fish category, the know-how in the value chain and brand building will help Deligusti continue to grow and thus be able to continue being leaders in the categories in which we work”.

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By GlobalData

In March, Angulas also acquired local peer Copesco & Sefrisa, a cod and salmon supplier.