ProA Capital buys Go Fruselva for €40m

According to local press reports, the GP acquired a controlling stake in the business for €40m from the company's founder, Xavier Martínez, who retained a minority stake.

3i, Nazca Capital and MCH Private Equity are among the private equity houses reported to have shown an interest in the business, until ProA eventually inked the acquisition off-market.

The deal follows the GP's recent sale of Logroño-based chorizo manufacturer Grupo Palacios to Carlyle in February 2015. ProA acquired a 60% stake in the business in a deal valued at €120m in 2009.

More recently, the GP launched its second vehicle, ProA Capital Iberian Buyout Fund II, with a €325m target in June 2014. The fund held a first close on €260m in September 2014.

Company
Founded in 2008 and headquartered in La Selva del Camp, Spain, Go Fruselva manufactures fruit purées, including smoothies, juices, nectars and fruit drinks. The company also has a presence in Chile.

According to press reports, the company posted a turnover of €65m in 2015.

People
Go Fruselva – Xavier Martínez (founder).

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• Topics
• Buyouts
• Consumer
• Southern Europe
• Spain