Livingstone is pleased to announce Eurocebollas (“The Company”) has sold a minority stake to NAZCA. Terms of the transaction were not disclosed.
Founded more than 40 years ago by the Alberola Vercher family, Eurocebollas is a Spanish leader in producing ready-to-use cooked onions as an ingredient for the food industry.
In 2019, Eurocebollas reached a turnover of 21MM EUR. They experienced 20% annual growth driven by its growing international expansion and increased market share through existing and new clients in the national market.
Headquartered in Valencia, the Company has customers in more than 25 countries, including the United Kingdom, France, Australia, the United States, Canada, and Russia, among others, and a workforce of 170 employees, which has doubled in the last two years.
With this move, Eurocebollas hopes to boost its international growth and consolidate its position in Spain.
Francisco Alberola, majority shareholder and CEO of Eurocebollas, stated, “In partnership with Nazca, we will boost our national and international expansion in the market. We are grateful to find a partner that will support our strategic vision with their access to resources and proven experience in market expansion.”
Livingstone has a history of advising family-owned companies on successful sales to private equity groups. The Eurocebollas transaction follows the sale of family-owned Schumacher Electric Corporation to Lincolnshire Management.
Moreover, the successful completion of Eurocebollas joins a long list of completed food & beverage transactions, including the sale of leading food contract manufacturer Arro Corporation to Mount Franklin Foods and the divestiture of Osborne Group’s ham-curing facility to Incarlopsa.