Lucasiñas has regained 100 percent control of Profand Fishing Holding through a EUR 127 million (USD 133 million) transaction.
Lucasiñas announced it reached an agreement with Corporación Financiera Alba to acquire the latter company’s 23.7 percent stake in Profand. Corporación Financiera Alba acquired its stake in Profand Fishing Holding in 2021, at the time paying EUR 100 million (USD 105 million) for its portion of the company.
“The company’s aim is to invest long term in listed and unlisted companies in various sectors of the economy which stand out as leaders in their own sectors, with solid management teams as well as profitable and sustainable growth models,” the firm said in a release at the time. “Alba is joining this project having been attracted by Profand’s solid business model, high potential for growth worldwide, and excellent management team, which will continue to lead the company.”
In a press release, Lucasiñas said that since the purchase, Corporación Financiera Alba contributed to Profand’s growth and helped the company accelerate its geographic expansion and strengthen its position in the value chain.
“To this end, significant investments have been made to increase production capacity, both in extraction and processing,” Lucasiñas said.
Given the rate of inflation of the euro, that initial EUR 100 million (USD 105 million) purchase in 2021 would ...
