Canning plant. (Photo: Conservas Cuca)

Garavilla acquires Conservas Cuca

SPAIN
Monday, June 06, 2011, 04:30 (GMT + 9)

With the aim of consolidating itself as the market leading company, Conservas Garavilla has acquired 100 per cent of the company Conservas Cuca, who sells fish and seafood under the brands Cuca and Massó. 

Today, Garavilla sells its cans under the brands Isabel and Garavilla, and has a wide range of prepared products.

According to the Group President, Estanislao Garavilla, the complete acquisition of Conservas Cuca will also allow them to become "an important reference in the international market."

They chose to acquire Cuca in particular as it "blends in well with the well run family business image, with products and brands of the first order in terms of quality and market penetration," added the executive.

For his part, the President of Conservas Cuca, Leopoldo Pita, said that this integration "consolidates a canning group which is oriented on growth and leadership which will strengthen the business plan" of the firm.

Meanwhile, the group's chief executive, Juan Corrales, stressed that the market "is demanding consolidation and the joint offers of the new group, due to the recognition of the quality of their Cuca and Massó products, as well as its dynamism as a result of Isabel's most comprehensive innovation and its high growth potential," reports Xornal.

The company Garavilla has around 2,500 employees and has four production plants in Mundaka (Vizcaya), El Grove (Pontevedra), Agadir (Morocco) and Manta (Ecuador).

It also operates four tuna vessels in the Pacific Ocean and its turnover in 2010 was EUR 240 million.

In mid-2010, Garavilla formalized an investment agreement with the venture capital fund MCH Private Equity. Under this agreement, MCH took control of a significant stake in the company's capital in canned fish.

Related article:

- Venture capital fund invests in Conservas Garavilla

By Analia Murias
[email protected]
www.seafood.media

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