Receive our newsletter – data, insights and analysis delivered to you
  1. News
March 1, 2019updated 10 Apr 2021 6:25pm

Spain’s Grupo Agroponiente bought by private-equity fund Abac Capital

Grupo Agroponiente, a fresh fruit and vegetable exporter in Spain, has sold a majority stake to a local private-equity firm.

By Dean Best

Grupo Agroponiente, a fresh fruit and vegetable producer in Spain, has sold a majority stake to local private-equity firm Abac Capital.

The deal, first announced in January, has been completed for an undisclosed sum following receipt of all the necessary administrative and regulatory procedures. Agroponiente Natural Produce and Vegacañada are also part of the group.

The transaction by Barcelona-based Abac also includes the purchase by Agroponiente of fellow fresh-produce supplier Lara Castañeda. The deal with the private-equity firm will also see Agroponiente increase its “majority” stake in another local vegetable grower, Vegacañada.

Abac said its investment will seek to accelerate Agroponiente’s growth in the horticultural sector from its base in the city of Almeria in the south-east of Spain and also help fund the produce supplier’s international expansion.

Oriol Pinya, a founding partner of Abac, said: “There is no doubt that the horticultural sector in Almeria is an example of dynamism, innovation, growth and potential, and we are convinced that, with our incorporation and the acquisitions that have been developed in parallel, the result is an Agroponiente Group that meets all the conditions to be able to undertake the highest challenges.”

Diego Rafael Amat Navarro will remain president of Agroponiente, while Miguel López Martínez will serve as chief executive.

Content from our partners
GMP: The food sector’s golden rules (and how they will evolve)
Food fraud in the supply chain (and how to fix it)
VEGA level and pressure instrumentation for the food industry

Antonio Lara, who is currently president of Lara Castañeda, will take on the vice president role at the firm.

Related Companies

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU