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Deal type:
Date of investment:
December 2015
Portobello Fund III
Wild-catch fishing of hake, schrimp and squid
Consumer good

Company description

Grupo Iberconsa is an international company specialized in the fish, manufacture, distribution and commercialization of frozen seafood products. It is a vertically integrated company, present in every stage of the value chain.

Iberconsa is based in Vigo, where it develops its commercial activity, and exports 45% of its sales. It sells through all channels, specially retail and foodservice. Its production focuses around three species: hake, squid and shrimp.

Iberconsa’s fleet includes ships in Argentina, Namibia and South Africa. It has processing plants in Argentina and Namibia. It owns also a wide network of retail stores and a stake in two refrigerators in the Spanish region of Galicia.

Why did we invest in Iberconsa?

  • Uncorrelated growth:
    • Strong market growth – growing global demand for fish protein products
  • Quantitative leaps:
    • Consolidation of quota in the main fisheries
    • Access to distribution channels allowing new product launches
  • Industry Leader:
    • # 3 player of the Spanish frozen seafood business
    • # 1 worldwide player in catch and processing of on-board frozen hake