Portobello Capital exits Ice Cream Factory

The founding Lamsfus family will retain the remaining 30% stake in the company and Guillermo Lamsfus Bravo and Ricardo Gil will maintain their roles of managing director and chief financial officer respectively.

According to press reports, the deal gives the business an enterprise value of around €100m.

Spanish private equity firm Ibersuizas bought an 83% stake in ICFC via its Fund II in 2010. Portobello inherited the stake when it span out from Ibersuizas in 2010.

Ferrero plans to boost the company's expansion and consolidate its market position in Spain and internationally. The food specialist, famous for its flagship product Nutella, employs 40,000 staff and generates €10.7bn in revenues.

Company
Founded in 2003 and headquartered in Alzira, ICFC is a private label ice-cream manufacturer for distributors and supermarket chains, including Tesco and Consum.

The company has a presence in 15 countries worldwide, employs around 700 staff and generates EBITDA of around a €10m from revenues of approximately a €120m.

Advisers
Acquirer – Arcano (corporate finance).

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• Topics
• Exits
• Southern Europe
• Consumer
• Portobello Capital
• Spain
• Trade sale