ProA acquires Pastas Gallo in €200m deal

Five siblings from the Espona Massana family will keep a minority stake of 15-30% of shares, according to reports. Prior to the transaction, each sibling owned 20% of the company.

The company's owners have been exploring sale options for the company since February 2019. The auction saw private equity firms Ventura Equity and Towerbrook Capital Partners, and trade buyer Idilia Foods in the final round. Rice and pasta manufacturer Ebro Foods left the auction earlier in the process after its €150m offer was rejected.

The company generated revenues of more than €200m and EBITDA of €20m in 2018, up from revenues of €197.5m in 2017.

Company
Founded in 1946, Pastas Gallo employs 363 people. Headquartered in Barcelona, Pastas Gallo's products are sold in 40 countries. The company produces pastas, ready-made pasta sauces, a line of soba products, flour and a gluten-free pasta range.

Advisers
Equity – Fidentiis (M&A); Óptima Corporacion (corporate finance); Linklaters (legal).
Company – EY (financial due diligence); Banco Sabadell (corporate finance); Garrigues (legal).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• ProA Capital
• Spain
• EY (Ernst & Young)
• Linklaters