Unigrains seals first Spanish deal with Genuine Coconut

Unigrains made the investment via its Unigrains Iberian Capital Fund, a vehicle managed by Iberian buyout house MCH Private Equity, with Unigrains as the sole LP. The fund raised €20m in commitments and seeks four to six minority holdings in Iberian agri-food companies, investing equity tickets of €3-5m.

Following the transaction, the company will use the capital injection to increase its production, expanding to reach across Europe. Furthermore, it aims to expand into the US market by the end of the year, and hopes to generate €6m in revenues in 2017, according to a statement.

Company
Founded in 2014 and headquartered in Zaragoza, Genuine Coconut provides organic coconuts and unprocessed coconut water. It has developed a technology to remove coconut husks and place an easy-to-open system on the shell, using it as a container.

The business employs 51 people.

People
MCH Private Equity – Francisco Caro (partner).
Genuine Coconut – Carlos Amorós (CEO).

Advisers
Equity – Bankinter (M&A); Garrigues (legal).

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• Topics
• Expansion
• Consumer
• Southern Europe
• Spain