Alantra backs Frías Nutrición

The current management team, led by CEO Victor Frías, will retain a significant minority stake in the company and will continue to lead the business.

The GP deployed capital from Alantra Private Equity Fund III, which held a €450m final close in February 2017. The vehicle invests equity tickets between €30-60m in companies generating EBITDA in the range of €10-40m and with an EV between €80-200m.

Unquote understands that, following this deal, Alantra Private Equity Fund III will be 60% deployed. In addition to the equity drawn from the fund, a debt package of an undisclosed amount was provided to support the deal.

Under Alantra's ownership, Frías Nutrición plans to consolidate its market position in Spain, launch new products, expand internationally and pursue a buy-and-build strategy.

Company
Founded in 1919 and headquartered in Burgos, Frías Nutrición specialises in the production of organic and vegan drinks and food, such as soy milk, coconut milk, rice milk, almond milk, tofu and avena. The company employs 130 staff and generated revenues of €60m in 2018.

People
Frías Nutrición - Victor Frías (CEO).
Alantra Private Equity - Bruno Delgado (partner).

Advisers
Equity - Garrigues (legal); KPMG (financial due diligence, tax);  DC Advisory (debt advisory); Marsh (insurance due diligence); ERM (ESG due diligence).
Company - Santander (corporate finance); Uría (legal).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Alantra Private Equity
• Spain
• KPMG
• Santander