MCH backs citrus fruits producer Llusar

Alessia Argentieri
13 January 2021

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MCH Private Equity has invested in Spain-based citrus fruits specialist Llusar.

The investment was made in partnership with fruit and vegetable producer SanLucar Fruit.

Following the deal, the Llusar family will continue to manage the business.

The GP intends to support Llusar in consolidating its market position across Europe, while boosting both its organic growth and acquisition strategy.

MCH is currently investing via MCH Iberian Capital Fund V, which backs medium-sized companies headquartered in Spain and Portugal, generating EBITDA of €5-15m. The fund held a €200m first close in April 2020 and expects to reach its final close in the coming months.

Company
Headquartered in Chilches, near Castellón, Llusar specialises in the production of citrus fruits, primarily oranges and clementines.

The company generates annual revenues of around €63m, of which 85% comes from outside Spain, primarily from France, Germany and Austria.

People
MCH Private Equity – José Manuel de Bartolomé (partner).
Llusar – Jorge Llusar (CEO).

Advisers
Equity – Norgestión (M&A); Garrigues (legal); Roland Berger (commercial due diligence); Deloitte (financial due diligence).
Company – Speed Out (M&A); Anaford (legal).