JB Capital leads consortium in acquisition of Palacios Alimentación stak

SPAIN – JB Capital, a Spain-based investment firm, has spearheaded a consortium to acquire a majority interest in Palacios Alimentación, a Spanish food manufacturer, from its previous investors, MCH Private Equity and Ardian.

Joining JB Capital in the transaction were three additional investors: Madrid-based Ion-Ion, Corporación Financiera Guadalmar, and Label Investments.

Financial details of the deal were not disclosed. 

In a statement, JB Capital indicated that the new ownership group intends to collaborate with the company’s management team to support its ongoing operations and future plans.

Pedro Dominguez, who has been Palacios Alimentación’s general manager since 2005, will retain his position. 

Headquartered in Logroño, northern Spain, the company produces a range of ready meals, pastries, refrigerated pizzas, potato omelettes, chorizo, and desserts. 

Palacios Alimentación operates seven production facilities spread across Spain, the United States, and the United Kingdom and reports an annual revenue of approximately US$414.9 million.

Rafael Garabito, managing director at JB Capital, commented that the firm’s primary focus as a new shareholder is to assist the management team in executing its business strategy. 

He highlighted the goal of facilitating the company’s growth and reinforcing its position within the food manufacturing sector.

MCH Private Equity, based in Spain, and French investor Ardian acquired their majority stake in Palacios Alimentación five years ago from Carlyle, a global private-equity firm. 

Reflecting on their tenure, José María Muñoz, a founding partner of MCH, described it as a period of significant expansion and consolidation for the company. 

Despite broader economic challenges, Muñoz noted that Palacios Alimentación diversified its product portfolio and entered new markets during this time.

Muñoz expressed optimism for the company’s future under its new ownership. “We trust that the team and its shareholders will build on these accomplishments in a business that has become a key player in the food industry,” he said.

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