Livingstone advises Embutidos Ríos on the sale of a majority stake to a group of investors led by Whitehole

Livingstone’s consumer sector team specialized in food and beverages has advised the shareholders of Embutidos Ríos on the sale of a majority stake to a group of family offices led by Whitehole.

Embutidos Ríos is a family company located in Villarcayo (Burgos), specialized in the production and commercialization of Burgos black pudding with PGI (Protected Geographical Indication). Founded in 1930, the company has 85 employees and an annual turnover of more than 10 million euros. Embutidos Ríos is managed by the third generation of the family and is the market leader in its niche, thanks to its commitment to continuous innovation and quality.

The Basque family office Whitehole, founded by Alejandro Ormazabal, is specialized in investing in small and medium-sized companies by taking direct stakes in leading specialist companies with high growth potential. With an active management strategy based on governance, Whitehole seeks to generate sustainable added value in its investees, supporting both organic and inorganic growth initiatives and the incorporation of process technology.

Whitehole has led the acquisition of Embutidos Ríos to accelerate its development in the food sector, with quality, innovation and sustainability as strategic axes. The founding family of Embutidos Ríos maintains part of its shareholding in the company and continues to manage it. Together with Whitehole, a group of prestigious family offices and businessmen have participated in the transaction.

José Luis López Ríos, CEO of Embutidos Ríos, commented: “with this new collaboration we will have the necessary tools to build an even more solid company and team of professionals, with the goal of continuing to be leaders in our field, committed to total quality as one of our fundamental pillars. I would like to thank Livingstone for their tireless work and constant support throughout this process. Their work has been key to the success of the transaction”.

Alejandro Ormazábal, Whitehole’s CEO, emphasises that “our objective is to invest in and support companies with potential. Niche leaders with the capacity for growth, that generate sustained value over time. Embutidos Ríos is that great little project that has an impact on the market, but also on its surrounding environment. With our participation we want to develop the company, to give it continuity and to favour both the family history and the move to the next generation. We will accompany Rios in its growth and enhance its strengths”.

Diego Moreno and Ximo Villarroya, partners at Livingstone, highlight: “It has been a pleasure for us to advise the Ríos family in this important step in the company’s history. With this transaction, Embutidos Ríos will have the support of a group of prestigious investors to boost its growth”. 

Livingstone acted as financial advisor to the Rios family and Lawesome was their legal advisor. Garrigues was the legal advisor to the acquiring party.