Flexstone invests €6.3m in ProA-backed Pastas Gallo

Flexstone also announced it has reserved a significant amount of additional capital to support the company in its next phase of growth.

With Flexstone's support, the business plans to further bolster its expansion, launch new products and boost its growth, both organically and via new acquisitions.

Flexstone, an affiliate of Natixis Investment Managers, specialises in co-investments in private companies usually backed by small and mid-market buyout and growth funds. The firm has offices in Europe, the US and Asia, and has completed 100 co-investments since its inception in 2008.

ProA acquired a majority stake in Pastas Gallo in July 2019 in a deal valuing the company at approximately €200m. Five siblings from the founding Espona Massana family kept a minority stake in the business.

Company
Founded in 1946 and headquartered in Barcelona, Pastas Gallo is a manufacturer of pasta, ready-made pasta sauces, a line of soba products, flour and a gluten-free pasta range.

The company employs 363 staff and sells its products in 40 countries worldwide. Pastas Gallo generates revenues of around €200m and EBITDA of approximately €20m.

People
Flexstone Partners – Eric Deram (managing partner); Zélie Saint-Zéby (investment director).

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• Topics
• Expansion
• Southern Europe
• Consumer
• Spain
• ProA Capital