Portuguese seafood processor Brasmar has acquired Spanish smoked products manufacturer La Balinesa.
With the acquisition of the Spanish family-run company, Brasmar will enter a new market segment and diversify its offer, and also strengthen its position in the Iberian market.
It will be headed by David Casañ Gil, who will also take charge as the COO of the Brasmar Group, and will be responsible for the operations and supply chain department.
La Balinesa is recognised for its high-quality products, and is characterised by its handmade production processes supported by modern technology, and strict quality control of raw materials.
It stands out for its premium smoked products, such as salmon or cod, and is also dedicated to the production and marketing of other frozen items.
La Balinesa is located near Benavente in Leon, which enables the company to serve its customers in less than 24 hours anywhere in the Iberian Peninsula and in 72 hours across the rest of Europe.
Brasmar said that it is actively identifying potential targets for acquisition to boost its presence in the European market.
Jointly owned by Portugal’s VigentGroup and Spanish private equity firm MCH, Brasmar is one of the leaders in the frozen seafood products market in Portugal.
It operates in more than 40 countries and has production units in Portugal and Norway.
In 2018, the company reported a turnover of €194.5 million, compared to €164.2 million a year earlier.
Exports account for 53% of its sales, with Italy as one of the main markets recording more than half of the sales abroad, followed by Brazil and Spain.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine