GED Capital acquires Cubers

GED bought a 67% stake in ice cube manufacturer Cubers Premium, which is headquartered in the Asturias region of Spain. The remaining stake will stay with the founder of the company.

Along with its simultaneously announced buyout of Araven, the purchases mark the second and third investments of its GED V España fund. The fund had its first close in November 2015 after raising €80m of its €150m target.

The fund's first investment was made last June when it backed Spanish frozen octopus company Discefa.

Company
Cubers Premium is located in Asturias and was founded in 2001. It supplies more than 5,000 customers in the hospitality industry, 350 service stations, nearly 500 supermarkets and various wholesalers. It has factories in Gijón and Valencia.

People
GED Capital – Enrique Centelles-Satrústegui (managing partner of GED V).

Advisers
Equity – KPMG (corporate finance); Deloitte (financial due diligence); King & Wood Mallesons (legal).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Spain