Spain's Ángel Camacho, the owner of the Fragata table olive brand, has purchased Portuguese peer Maçarico.
Sevilla-based Ángel Camacho said the deal for Maçarico marks the company’s entry into new markets in Portugal and Brazil, although the acquired business supplies 50 countries across five different continents.
Both companies are family-owned and both produce table olives, olive oil, pickles, sauces and condiments.
Maçarico supplies products under its namesake brand, while Ángel Camacho is home to a number of lines, which also include La Vieja Fábrica jams, Mario olives, oils and tapenade, and Susaron functional teas.
Unlike Ángel Camacho, Mira-based Maçarico also manufactures piri-piri sauces and soy sauce. Set up in 1930, it has two factories located in Praia de Mira and Cantanhede, near Aveiro, about 100 kilometres from the city of Porto.
Ángel Camacho said in a LinkedIn post acknowledging the deal, that the transaction is part of the company’s 2024-2026 strategic plan. That entails moving into new product categories and new markets.
“This acquisition reinforces Ángel Camacho's global position, expanding its offer and consolidating its international presence, with a focus on sustainability and quality,” the company added.
Ángel Camacho, which also owns the Loreto brand of table olives, capers and olive oils, did not disclose the purchase price for Maçarico in the social media posting.
Founded in 1897, it operates five production plants – three in Spain and one each in the US and the UK. It serves markets across Europe, as well as Asia and Russia, according to its website.
Maçarico is the latest investment made by Ángel Camacho, which generated sales of €252m ($278.5m) in 2022. The same year, it invested in Italian snacks, and canned fruit and veg supplier Sama.
Investments in the previous two years included Mani Foods in Greece, also a supplier of table olives and cooking oils, and the olives producer in Morocco, Cartier Saada.
Just Food has asked Ángel Camacho for more details on the strategic planning and annual revenues since 2022.
