The food industry is a sector in full growth thanks to technological innovation and the emergence of new business models. The boom in the sector has brought a huge surge of mergers and acquisitions in recent years. In today's post we are going to analyse two M&A operations carried out in recent years in the food sector by Angulas Aguinaga.
Angulas Aguinaga is a Basque company specialising in seafood products and majority-owned since 2006 by the private equity fund manager Portobello Capital. The companies acquired have been nurseries Merimar and the Italian Riunionein 2018 and 2020, respectively.
Viveros Merimar is a company specialised in the production and distribution of octopus and owner of brands such as Meripul and Merimar. In July 2018, Angulas Aguinaga announced its acquisition, with the clear objective of accelerating its growth and strengthening its presence in one of its main activities, the marketing of octopus. Merimar's experience in a growing sector such as octopus, together with Angulas Aguinaga's leadership in modern fishmongering, was decisive in successfully completing the operation.
In 2017, Angulas Aguinaga established a 2017-2020 strategic plan, with the clear objective of achieving market leadership and reaching a turnover of 200 million euros before the end of 2020.
After the acquisition of Viveros Marimar, Angulas Aguinaga continues its expansion plans, both in the national and international markets.
In January of this year, almost a year and a half after the acquisition of Viveros Merimar, Angulas Aguinaga announced a new acquisition in the frozen fish sector: the purchase of the Italian company Riunione, specialised in the marketing of salmon and other canned fish products.
This operation represents an important leap in the internationalisation of Angulas Aguinaga which, after the closing of this operation, reaches nearly 36% of international business, a figure that is almost five times higher than in 2016.
The purchase is also part of the company's 2017-2020 strategic plan and Riunione's CEO Andrea Coppola will continue to lead the company in Italy.
▶You may be interested in: Panrico, Angulas Aguinaga: the big Spanish food companies in international hands.