Alternative asset manager, The Carlyle Group has announced it has agreed to acquire a majority stake in Spanish specialty food business Palacios Alimentación, which manufactures and distributes cured meats, frozen pastries, pizza, tortillas, and other ready-to-eat meals.
Capital for the investment will come from Carlyle Europe Partners IV, a European upper-mid market buyout fund for which this will be its fourth investment.
Palacios distributes to more than 30 countries, and in 2014 generated approximately €150 million, with 25% generated from outside of Spain, making it well positioned for a new phase of growth. Palacios states that Carlyle’s global network of relationships and industrial expertise will support the company in its next stage of internationalization.
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