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June 9, 2020

Spanish ice cream maker Farggi Menorquina acquired by UK hedge fund manager Cheyne Capital

Spanish ice cream and pastry manufacturer Lacrem, which operates as Farggi Menorquina, is under new ownership.

By Leonie Barrie

Spanish ice cream and pastry manufacturer Lacrem, which operates as Farggi Menorquina, has been acquired by London-based hedge fund manager Cheyne Capital Management for an undisclosed sum.

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Cheyne Capital Management, which has been a minority investor in Montgat-based Lacrem since March 2019, has bought a 97.5% stake in the company from its existing owners, Barcelona-based private equity firm Black Toro Capital and the Farga family, which founded the business.

Black Toro’s exit is complete but the Farga family has kept a 2.5% stake in the company and retains full control of the associated restaurant business, which is made up of 20 cafes and ice cream parlours.

The group in its current form was formed three years ago when Farggi and La Menorquina, which also makes ice cream, were integrated under the new ownership of Black Toro.

Farggi Menorquina markets products under the Farggi, La Menorquina and Frigécrème brands, selling into restaurants, bars and kiosks, ice-cream parlours and retailers. Frigécrème is the brand under which the group, which says its business covers 40 countries, markets its products in France.

The company’s plant is in the town of Palau Solità i Plegamans, 15 miles north of Barcelona. 

just-food has asked Cheyne Capital Management and Black Toro for comment.

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Free Whitepaper
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What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
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  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
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