SPAIN - ProA acquires 60% stake in Embutidos Palacios
It is understood that ProA Capital has acquired a 60% stake in charcuterie business Embutidos Palacios. The deal value has not been confirmed, but sector experts estimate it could be around EUR 100m.
Based in Logroño, Embutidos Palacios was founded in 1983 as a chorizo producer, and generated EUR 135m turnover in 2008.
The other shareholders are Swiss Partners Group, Basque Talde and management, which hold stakes of respectively 20%, 15% and 5%.
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