ProA Capital has closed the acquisition of the cooperative Agrícola Villena, after several months of negotiations.
ProA Capital has announced an investment plan designed by the new management team to modernise the facilities, as well as investing in lines for processing new products. The investments will exceed €10 million in the coming years. In addition, the company adds, a new management team from the agri-food industry has been brought in to reinforce the existing team and to be able to implement continuous improvement and process management systems.
The agreement reached between the company and the workers will provide the company with the necessary flexibility to adapt to the needs of the agri-food industry. This business plan, which is about to be implemented, will generate sustainable and quality employment thanks to the expected growth in the coming years.
The new growth and modernisation plan, which starts today with the entry of ProA Capital, will allow Agrícola Villena to boost production of the company’s classic products such as carrots, leeks and celery, while at the same time investing in the development of new products in the 4th and 5th ranges.
Product innovation, according to the new ownership, will be a fundamental pillar on which the company hopes to grow sustainably in the long term, giving greater added value to the end customer. Agrícola Villena, created in 1986 as a Cooperative Society and transformed into a Limited Company, sells fresh vegetables, mainly carrots, leeks, celery and vegetable trays for boiling, and has two production centres located in Villena and La Barca de la Florida (Cadiz).
ProA Capital de Inversiones SGEIC, S.A. is one of the largest independent private equity fund managers in Spain with more than €1.5 billion of assets under management and extensive experience in food and agricultural companies. Among its investee companies in the agri-food sector are Pastas Gallo, Patatas Hijolusa, Moyca and Delafruit.
Garrigues advised ProA Capital with a team comprising partners José Manuel Martín and Gonzalo Rivera, together with principal associate Marta Clemente and senior associate Clemente Mateo.