Nazca Capital backs Herbex

Nazca's investment includes a capital injection to finance Herbex's growth plan, consolidate the company's development and increase its penetration into new markets and channels.

The GP drew capital from its Nazca IV Fund, which held a final close on its €275m hard-cap in December 2016. Herbex is the third investment made by the fund, following the acquisitions of marble specialist Moldcom in February 2017 and dental implant manufacturer Phibo in June 2018.

According to a statement, Herbex will use the fresh capital to expand its production capacity, develop new products – including exotic fruits and vegetables – and scale up its team. It expects to double its turnover in four years, reaching around €94m by the end of 2022.

Company
Established in 1984 and headquartered in in El Ejido, near Almería, Herbex sells fresh aromatic herbs and vegetables to the food industry in 26 countries across Europe. The company grows its products in 700 hectares of fields located across Morocco, the southeast of the Iberian Peninsula and the Canary Islands. It generated a turnover of €47m in its most recent financial year, of which 75% came from outside Spain.

Advisers
Equity – Pérez-Llorca (legal); EY (financial due diligence).
Company – Zechman Capital (corporate finance); Deloitte (financial due diligence).

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• Topics
• Expansion
• Southern Europe
• Consumer
• Spain
• Deloitte