Nazca sells Guzmán Gastronomía
Since the December 2009 purchase by Nazca Fund II and the Nazca management team, along with a group of international investors led by Alpinvest, Nazca has successfully divested from two of its seven portfolio companies, exceeding the volume invested by over three times: El Derecho in September 2010 and Guzmán Gastronomía in April 2011.
The success of Guzmán was mainly due to the growth and professionalisation of the company, transitioning from being a local family company with sales of around 20 million euros in 2005 (the year of Nazca’s investment) to becoming the national leader in the sector of distribution of fruit and vegetables and gourmet products oriented toward the medium-high segment of the HORECA channel with sales of 37 million euros and growth of 24% in 2010.
Nazca acquired the majority of Guzmán along with the management team in 2005. Since Nazca’s investment, the company has invested over 10 million euros in growth, including its new 8,000m2 facilities in Mercabarna, the acquisition of two local operators in Madrid and Barcelona, entry in new market segments and the launch of new pre-prepared and gourmet bread products. The management team led by Joaquim Arasanz, incorporated with Nazca in 2005, will continue to lead the company, strengthening its position in the shareholding (35% compared with the initial 15%) and continuing with the strategy of growth carried out by Nazca in recent years.
Nazca, through its new Nazca Fund III of 200 million euros, continues with its strategy of a generalist fund, leading buyout and development capital operations in the Spanish middle market in companies valued between 30 and 150 million euros.