Return to search

Carlyle buyout fund invests in Spanish food manufacturer

The private equity group has bought a majority stake in Palacios Alimentacion from venture capital firms ProA Capital and Talde, and private markets giant Partners Group.

Carlyle Group‘s latest buyout fund, the $1.24 billion Carlyle Europe Partners IV, has made its fourth investment into a Spanish food manufacturer, Palacios Alimentación.

The global private equity group bought a majority stake in the company from venture capital firms ProA Capital and Talde, and private markets giant Partners Group.

Palacios Alimentación specialises in cured meats, frozen pastries, pizzas, tortillas and other ready-made meals. The company reported revenues of $163 million in 2014; some 25 percent of these revenues came from outside of Spain. The company has a presence in countries such as France, the UK and Portugal.

“Palacios supplies retail distribution groups as well as major food chains where it is known for its innovations, service and quality,” said Mario Pardo, director of The Carlyle Group, in a statement. “We look forward to working with the current management team to further boost the next steps in internationalisation for the Group, leveraging on those relationships, the leadership associated to its brand name and the experience Carlyle also has in helping to build international businesses.”

Carlyle Europe Partners IV, an upper-mid market buyout fund, invested in Homair Vacances, a high-end outdoor accommodation and holiday group in September 2014. The same month, the fund also invested in Custom Sensor & Technologies, a company that engages in the design, manufacture and sale of sensing, control and motion products, according to Carlyle’s website. In December 2014, Carlyle acquired a majority interest in Sematic Group, a manufacturer and supplier of elevators and related components.