The Abac Capital fund continues diversifying its investment portfolio and is now entering the food sector. The manager has taken a majority stake in Agroponiente, an Almeria-based firm devoted to the agro-industrial business. The cost of the operation, according to market sources, would amount to around 60 million Euro.
According to the same sources, Abac has been negotiating its entry into this company for months. As is usually the case with this type of funds, one of the points in favor of the entry of Abac in its shareholding is its potential for internationalization. Agroponiente is one of the main horticultural companies in southern Europe and markets its products in other regions, such as the US and Canada.
With the entry of Abac, the Almeria-based firm will also obtain the necessary financial resources to continue developing its international growth strategy. At present, Agroponiente - which will continue with the same management team - has a turnover of around 300 million Euro and a staff of 2,000 employees. For now, the closing of the operation is pending approval by the corresponding competition authorities.
Agroponiente also has shares in other companies, such as Difrusa Export, Sap Biotech, AGF Fashion Group, Juncal Agroservicios, Agroponientes Céspedes, Keepfresh Agro Andalucía, Ponienteplast and Raf Tomato in your home.
Source: eleconomista.es
