Alantra advises Frusel on its sale to Groupe Soficor-Menguy’s

Dec 2022

Sell-side advisory

Lisbon – Alantra, the global independent investment banking and asset management specialist, has advised Frusel’s shareholders on its sale to leading French snacking group, Groupe Soficor-Menguy’s (“the Group”), part of Groupe Ocealia.

Frusel is a Portuguese company founded in 2001 specialized in processing (frying, toasting, seasoning, and salting) and packaging dried nuts, dried fruits, and seeds. The Company is the second largest player in the Portuguese sector.

Groupe Soficor-Menguy’s was founded in 1987 and is one of the leading snacking companies in France, selling over 20,000 tons of dry nuts, snacks and olives, employing c.250 people.

Groupe Soficor-Menguy’s parent company, Groupe Ocealia, is a leading French agri-food cooperative in the Nouvelle Aquitaine region focus on crops recollection and farming procurement businesses. With consolidated revenues of €1,050m, Ocealia is among the biggest French cooperatives.

Despite the complex consumer environment throughout 2022 – partly driven by inflation in the cost of raw materials, the energy crisis and increase in currency volatility – Alantra successfully generated interest from relevant strategic buyers which could contribute with synergies and boost Frusel’s growth.

Bruno Branco, CEO, and owner of Frusel, said, “Alantra’s expertise and global reach were key in finding us the best partner who shared our ambitions for Frusel. The guidance and total commitment we received from the Alantra team throughout the process were key to achieving a great deal. All of us at Frusel are very excited to continue our growth story and to join forces with Groupe Soficor-Menguy’s as we feel this is the best way to secure our long-term strategic goals.”

“It has been a pleasure to find the right partner for Frusel and the Branco family. Together with Groupe Soficor-Menguy’s and Groupe Ocealia, the Company will consolidate its leading position in Portugal and continue offering high-quality products to its long-standing clients,” commented Iñigo Mateache, Partner at Alantra.

The Alantra team advising Frusel’s shareholders included Iñigo Mateache, Rita Barosa, Cristina del Pozo, and Inés Azcue.