Spanish meat processor Encarna has snapped up mushroom supplier Setas Vallondo.
Private-equity-backed Encarna, home to brands including Casa de Vacas and La Finca, is looking to diversify its portfolio.
Capza, the pan-European private-equity firm behind Encarna, told Just Food the purpose of the acquisition “is to continue developing Encarna Group as a premium food company beyond premium beef”.
The buy-out house, which acquired a majority stake in the company in 2022, declined to comment further.
Setas Vallondo, based in Autol in La Rioja in northern Spain, produces mushroom varieties such as shiitake, oyster mushrooms, eryngii and lion’s mane.
Deale, a Barcelona-based “digital M&A platform”, worked with both companies on the deal. Financial terms were not disclosed.
“With the acquisition of Setas Vallondo, [Encarna] will expand its portfolio, strengthen its premium brands, and explore the possibility of international expansion,” a statement issued by Deale read.
“Setas Vallondo, led by the first generation of a family dedicated to mushroom production, has carried out this transaction to ensure its generational transition, keeping the second generation at the helm of the company.”
Capza acquired the then La Finca alongside French investment firm Unigrains and Argentinian family office Cantomi.
Under the terms of the deal, the Jiménez Barbero family, who founded the beef processor 20 years ago, continued to run the Madrid-based business.
