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Leading Spanish private label pet food manufacturer

Type of Operation



Portobello Fund IV

Investment date

July 2019


Pet food manufacturer

Elmubas is a leading private label pet food manufacturer in Spain, providing best-in-class service, quality and pricing to over 500 clients. Founded in 1978, Elmubas manufactures extruded dry pet food for dogs and cats. The company has over 4,000 SKUs and 150 recipes, and sells over 180,000 tons per year to the major supermarket chains and specialized retailers.


Why did we invest in Elmubas?


  • Attractive industry with strong fundamentals: resilient and non-cyclical with positive organic growth dynamics
  • Leading industry player
  • Both organic and inorganic growth opportunities
  • Best-in-class management team