Spain: Whitehole to acquire Embutidos Rios

Investment fund Whitehole has acquired Spanish black pudding maker Embutidos Rios with the aim of boosting its presence in the food sector.

Founded in 1930, Embutidos Rios has a workforce of 85 and an annual turnover of more than €10 million ($11 million).

Commenting on the deal, José Luis L Ríos, Embutidos Rios executive director said: “This collaboration provides us with the necessary tools to build a solid company and management team, with the goal of remaining leaders in our segment, with a commitment to absolute quality as one of our fundamental pillars”

“Our aimis to invest in and support companies with potential, niche market leaders with the capacity for growth, and that generate value sustainably over time”, added Whitehole CEO Alejandro Ormazabal.

The founders of Embutidos Rios will maintain a portion of their stake in the company and continue to lead the business operations.

Source: Info Retail