ADM Capital buys Olivos Naturales

The acquisition is the second transaction for the GP's food-dedicated vehicle, Cibus Fund, which reached a $100m first close in May 2017 and targets a $500m final close in 2018.

According to a statement, the fund targets opportunities presented by global demographic changes, shifting trade patterns and misalignments in meeting the increasing regional demand for high-value foods. It focuses on the European and Asian markets.

Company
Founded in 2006 and based in Pamplona, Olivos Naturales produces extra virgin olive oil. The business manages 5,000 hectares of olive groves in Spain and Portugal and produces up to 9,000 tonnes of extra virgin olive oil per year.

Financial details regarding the business remain undisclosed, but the fund typically targets companies with EBITDA within the €5-20m bracket.

People
ADM Capital – Rob Appleby (co-founder, joint chief investment officer); Gavin Sasson (partner, senior investment director); Alastair Cooper (partner, head of early-stage).

Advisers
Equity – Pérez-Llorca (legal).
Vendors – Uría Menéndez (legal); Arcano Partners (corporate finance).

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• Topics
• Buyouts
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• Southern Europe
• Spain