Solina invests in Eurocebollas
The French group Solina, advised by Livingstone, has reached an agreement with Grupo Alimentario Alberola and Portobello Capital, the current shareholders of Eurocebollas, to enter as minority shareholder in the company. Eurocebollas is a market leader in the design, development, production, and marketing of ready-to-use natural ingredients and solutions, mainly derived from onions.
Solina has become a minority shareholder in Eurocebollas, managed by Francisco Alberola. Portobello replaced Nazca Capital as a shareholder of Eurocebollas in July 2023.
As a key industrial shareholder, Solina will contribute its experience, knowledge, resources, and international presence to help strengthen the company’s position in the market and support the development of new products and solutions.
Solina, whose majority shareholder is the private equity fund Astorg, is a global leader in tailor-made ingredient solutions for clients in the food industry, foodservice, butchery, and nutrition sectors. Its expertise combines culinary and technical know-how that enables the company to design innovative food solutions that stand out for their perfected taste, optimized functionality, and enhanced nutrition. The French group has more than 3,400 employees working across its 38 production sites in 18 countries and serves customers on 5 continents.
Solina’s M&A and Transformation Group said: “We would like to thank Ximo Villarroya and the rest of the Livingstone team for presenting us with this opportunity in such an effective way. There is no question that their knowledge of Eurocebollas and their relationship with Portobello were key to the success of this transaction.”
The Valencian company Eurocebollas, based in Alzira and founded in 1980, supplies products based on onion, garlic, and eggplant or zucchini, to the food industry for prepared dishes such as omelets, pies, pastas, sauces, sausages, and stews. Its customers are located in more than 30 countries, and it has almost 200 employees working in its production facilities in Alzira (Valencia) and in its logistics warehouse in Chinchilla (Albacete).
“Eurocebollas would like to welcome Solina, a world-leading food solutions partner. Its culinary heritage, its extensive experience in the ingredients industry and its commitment to innovation are perfectly aligned with our vision of growth and excellence,” said Francisco Alberola, CEO of Eurocebollas.
Portobello Capital, a Spanish private equity firm founded in 2010 and a leader in the Southern European Middle Market, invests in companies from its Madrid office, where it employs an experienced team of more than 40 professionals. It currently has more than 2,000 million euros of assets under management across a portfolio of 22 companies.
Víctor Virós, partner of Portobello, commented: “When Livingstone suggested the entrance of Solina, such a qualified industrial player, in Eurocebollas, it really resonated with us. We are sure that Solina will be a great partner, both for the commercial expansion of the company and for the development of new products. Livingstone’s experience in managing this type of transaction has been fundamental throughout the negotiation process.”
This marks another successful transaction for Livingstone in the food sector in 2023, which already includes the sale of V.Ros, the sale of Frutas Tono, and the acquisition of Fiorucci.
