GED Capital's Cubers Premium bolts on Procubitos

Following the deal, the two companies will be merged in a new entity but continue to operate under their independent brands, Procubitos and Cubers.

The new group expects to reach combined revenues of €25m in 2018 and a daily production capacity of 800 tonnes. In addition to this, it plans to open a new facility in Germany, consolidate its position in the European market and extend its presence to other countries through a buy-and-build strategy.

After completion of the acquisition, GED's vice-president Félix Guerrero will become president of the new group.

GED bought a 67% stake in Cubers Premium in February 2017 via its GED V España fund, while the company's founders retained the remaining minority holding in the business.

Company
Founded in Cadiz in 1989, Procubitos specialises in the manufacture and distribution of ice cubes. The company has production facilities located in Spain, in Cadiz and Avila, and in Frankfurt, Germany.

People
GED Capital – Félix Guerrero (vice-president).
Hervaz Group – Miguel Ángel Vázquez (board member).
Cubers Premium – Carlos Ramírez (founder).

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• Topics
• Portfolio management
• Southern Europe
• Consumer
• GED Capital
• Spain
• Build-up