Friday, March 24, 2023

Grupo Costa acquires sliced cold meats company

Grupo Costa has acquired Juan Luna, a leading company in the European market in sliced cold meats and cheese and meat snacks.

The company’s majority shareholder until now was Nazca Capital. This brand is thus added to the Costa Food Group holding, the national meat purveyor which currently supplies ‘Iberico’ and white pork, chicken, and turkey.

Jorge Costa, CEO of the group, said: “The acquisition of Juan Luna allows us to strengthen our options in the pre-packaged food market, and also to extend our ranges. It will undoubtedly boost our growth, as it is a leading company in cutting, slicing and packaging. This incorporation is key to bringing continuity to our commitment to being closer to the end consumer.”

Álvaro Mariátegui, CEO of Nazca, said: “Juan Luna is our twenty-third divestment, following a project in which we have opted for industrial reinforcement and the transformation of a family business into a leading Spanish company with independent, professional management. The choice of buyer of our investees is very important to us and we are convinced that Costa Food Group is the ideal group in which to integrate Juan Luna, for its prestige, growth strategy and cross-selling potential.”

The Juan Luna plant in Sollana (Valencia) produces pre-packaged, ready-to-eat meat and cheese products in different formats: sliced, cuts, diced, wedges, cheeseboards, presentation cases, etc. The company has 245 employees and its aggregate turnover in 2021 was 56.5 million euros. Grupo Costa’s aggregate turnover forecast for 2021 is 1700 million euros.

Costa Food Group is composed of Piensos Costa, Costa Food Meat, Casademont, Industrias Cárnicas Villar, Ibéricos Costa, Embutidos La Nuncia, Grupo Aviserrano, Roler, La Alegría Riojana and now, Juan Luna.

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