Spain: Grupo Palacios acquires Precocinados Fuentetaja and Elore Holdings
Spanish meat, ready meal and dessert manufacturer Grupo Palacios has acquired Precocinados Fuentetaja as well as Elore Holdings for undisclosed amounts, according to a report in FoodBev.
Through these acquisitions, Grupo is aiming to consolidate its presence in Spain and the USA.
Fuentetaja is a Spanish company selling ready meals to retail stores in Spain, Europe, the USA and Mexico. The company manufactures pizzas, salads and Spanish omelettes under the Fuentetaja brand.
Meanwhile Elore Holdings owns Quijote, a Florida based company described as the largest Spanish chorizo distributor in North America, manufacturing and distributing its own branded products, as well as distributing Palacios brand chorizo in the US and Mexico.
Commenting on the move, Palacios CEO Pedro Dominquez said: “Both Fuentetaja and Quijote will also increase our brand portfolio, through the leading brands in their respective markets, and increase our international presence, especially in North America, where there is a growing demand for quality Spanish provenance products”.