Eurocebollas accelerates its Growth Plan and incorporates Nazca as a Shareholder
- Founded in 1980 in Valencia (Spain), Eurocebollas is the leading company in the production of onion-based ingredients for the food, ready meals, and foodservice industries.
- The company has clients in 25 countries and reached sales of €21 million in 2019, having grown at +20% rates in the last few years.
- Together with Francisco Alberola, shareholder and CEO of the company, Nazca’s goal is to give continuity to Eurocebollas’s project, accelerating its international expansion and consolidating its leadership position in Spain, both in its main line of onion-based ingredients and other products.
Madrid, December 11th, 2020.- Eurocebollas, specialized in the production of ready to use cooked onion, has given entry to Nazca Capital to its shareholding structure, a private equity fund management company focused on investing in small and medium-sized Spanish private companies. Eurocebollas will rely on Nazca’s experience in both organic and inorganic growth projects to boost its international growth and consolidate its leading position in Spain.
Eurocebollas, founded more than 40 years ago by the Alberola Vercher family, is the leading producer of ready to use cooked onion as an ingredient for the food industry. In 2019, Eurocebollas reached sales of €21 million, having grown at +20% rates over the last two years, driven by its international expansion and its increasing share in the national market, with both existing and new customers, leveraging its leadership position in Spain. The company, headquartered in Alzira (Valencia), has clients in more than 25 countries (UK, France, Australia, USA, Canada, or Russia, amongst others) and has a headcount of 170 employees, which has nearly duplicated in the last years to face the company’s expected growth in the coming years.
Currently, Eurocebollas produces more than 160 different recipes based on onion, both conventional and organic, in different packaging (aseptic, heat-sealed, or canned), which can be stored at room temperature and are ready to be used in its client’s products. Additionally, the company is currently launching other natural cooked ingredients such as garlic, aubergine, courgette, or pumpkin, as well as additional types of cooked onion (dehydrated and frozen fried). Its modern facilities, inaugurated in 2018 and located in Alzira, have a surface of 100.000 sqm and process more 80 million kilograms of onion annually. The company is planning to inaugurate a new facility in Albacete of 18.000 sqm in 2021.
In this new stage, Eurocebollas aims to carry out an ambitious growth plan leveraging its leadership position in the natural ingredients segment with a differentiated product which enables to collaborate with its customers and simplifies and saves costs in their cooking processes. This growth will also be driven by the positive trends in the ready meals industry. To carry out this project, Eurocebollas’ shareholders have strengthened the company’s balance sheet with an injection of additional funds. Francisco Alberola, which will continue leading the company, will rely on Nazca’s expertise to strengthen its development.
Francisco Alberola, current shareholder, and CEO stated: “With the incorporation of Nazca to the Shareholding Structure and the support of our 170 employees, we will drive our national and international expansion project in the market of natural ingredients and other products. Our partner will support us with its strategic vision and proven experience in growth projects and in strengthening the organization to be able to carry them out”.
Celia Pérez-Beato, head of Fondo Nazca V said “Eurocebollas, the fourth investment of Fund Nazca V, meets all the requirements that we seek in an investment. The company has a unique leadership position in the natural onion-based ingredients segment, which has positive dynamics. We are looking forward to be a part of this project, with an excellent management team lead by Francisco Alberola, where we will contribute with our 20 years’ experience in investing in growth project in family-owned companies in Spain”.
PWC and Pérez Llorca have advised Nazca on this deal and Livingstone Partners and Lopez-Ibor Abogados to the seller.