Nazca sells Biogran to Wassanen for €67m

According to a statement, the business saw turnover increase over the past three years, from €23m in 2014 to €27m in 2015, and up to an expected turnover of €32m in 2016 with a 17% EBITDA margin. As part of the deal, the company's management team will continue to lead the business.

Following the transaction, Wessanen will expand its business in Spain. Currently, the listed corporate already has a presence in France, the UK, Germany and Italy, where it generates €523m in revenues with 904 employees.

Previous funding
In May 2015, Nazca acquired a majority stake in the business, formerly known as El Granero Integral, via its Nazca III vehicle, which held a final close on €190m in May 2010.

Company
Headquartered in Toledo, Spain, Biogran manufactures and distributes fresh and dried organic food products across the Spanish market. The business mainly focuses on organic food, including soy-, cereals- and rice-based products.

Established in 1982, the company posted a turnover of €27m in 2015 and employs 128 people across two production sites near Madrid.

People
Nazca Capital – Álvaro Mariátegui (CEO, partner).
Wessanen – Christophe Barnouin (CEO).

Advisers
Acquirer – Hogan Lovells (legal).
Vendor – Alantra (M&A); DLA Piper (legal).

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• Topics
• Exits
• Consumer
• Southern Europe
• Spain
• Trade sale