Grupo Ñaming, the Spain-based convenience-foods maker, has seen majority control of the business change hands.

Italy’s DeA Capital has struck a deal to buy a majority stake in the sandwiches-to-smoothies maker from Spain’s Talde Private Equity.

Jorge Miranda, Grupo Ñaming’s CEO and a member of the founding family behind the business, has reinvested in the company and remains a minority shareholder.

Talde Private Equity, which invests in SMEs in Spain, had been a shareholder in the company for a decade.

Financial terms were not disclosed.

According to a statement announcing the deal, DeA Capital said Grupo Ñaming generates a turnover of €40.5m ($43.6m).

Based in Mallén in northern Spain, the food manufacturer employs 350 staff. The company has a second factory in Madrid. Its product range also includes wraps, salads and desserts.

Miranda said the deal “represents an important impulse for the growth of the company and the development of its team”.

The acquisition is DeA Capital’s third investment in Spain. Its portfolio in the country includes baby food and plant-based dairy specialist Alimentación y Nutrición Familiar, an investment it has held for three years.

DeA Capital is part of the family-owned Italian conglomerate De Agostini Group, which also has interests in sectors including publishing and gaming.