Nazca Capital invests in Eurocebollas

Nazca invested €10.4m in the company, the GP told Unquote.

Following the deal, CEO and shareholder Francisco Alberola will continue to lead the company.

With Nazca's support, Eurocebollas plans to boost both its organic and inorganic growth, consolidate its position in Spain and further bolster its international expansion.

The GP deployed capital from Nazca Fund V, a lower-mid-market vehicle that closed on its €150m hard-cap in June 2019. The fund targets majority and significant minority stakes in small Iberian companies, and typically deploys equity tickets of €7-20m.

Nazca has recently acquired video platform Filmin and organic food producer Laboratorios Almond. Earlier this month, the GP's fourth vehicle made its first exit by selling Moldcom Composites (McBath) to Engineered Stone Group (ES Group), a portfolio company of Cranemere.

Company
Established in 1980 and headquartered in Alzira, near Valencia, Eurocebollas is a producer of fried, pickled and dehydrated onions.

The company employs 170 staff and has clients in 25 countries, including the UK, France, Australia, Russia, Canada and the US. Eurocebollas generated revenues of €21m in 2019.

People
Nazca Capital – Celia Pérez-Beato (partner).
Eurocebollas – Francisco Alberola (CEO).

Advisers
Equity – PwC (financial due diligence); Pérez Llorca (legal).
Company – Livingstone Partners (corporate finance); Lopez-Ibor Abogados (legal).

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• Topics
• Expansion
• Southern Europe
• Consumer
• Spain
• PwC