Angulas Aguinaga acquires majority stake in Riunione Industrie Alimentari
Irura, Spain-based seafood firm Angulas Aguinaga has completed the acquisition of a majority stake of Riunione Industrie Alimentari, with the aim of increasing its portfolio of Italian products.
Genova, Italy-based Riunione Industrie Alimentari is a marketer of smoked salmon, swordfish, tuna, and bottarga in Italy. In a press release, Angulas Aguinaga said it will use its stake in the Riunione Industrie Alimentari to make Italian-themed seafood products for the Spanish market and push its own Spanish products into the Italian market. It will also lead Riunione Industrie Alimentari to increase its product offerings to include mussels, octopus, and surimi.
“We are very happy that Riunione becomes part of our family, not only because it is a point of reference for the Italian market in this sector, but also because we are confident that together we can work to renew and revolutionize food for Italian consumers,” Angulas Aguinaga CEO Ignacio Muñoz Calvo said in a press release. “This is a very advantageous agreement for both parties, combining extensive experience, distribution, and presence in the Italian families and customers of Riunione and thanks to constant innovation and experience in the modern fish sector of Angulas Aguinaga.”
Angulas Aguinaga will be launching several new products in the coming months to take advantage of the new partnership, it said. The company currently produces products under the Krissia, La Gula del Norte, and Aguinamar brands for the European market.
Andrea Coppola, the general manager of Riunione Industrie Alimentari, said his company will increase its growth as a result of the move.
"The entry into the field of Angulas Aguinaga will be an impulse that will allow us to continue to grow with new inputs compared to the modern fishing sector, and to consolidate the leadership of Riunione," Coppola said.
Last May, Angulas Aguinaga launched its Professional brand for foodservice, with the goal of increasing that part of its business from 12 percent of company sales to 20 percent by the end of 2020.
It has set a goal of reaching EUR 220 million (USD 245.5 million) in sales for 2020.