Noel Alimentaria takes minority stake in Garrudo Benito

Spain's Noel Alimentaria has purchased a 25% interest in fellow Iberian meat company Garrudo Benito. Financial terms of the deal were not disclosed as Noel said in a statement that it plans to increase its holding in family-owned Garrudo Benito to 50% by 2028 through a phased process. The acquisition is intended to “secure and expand” Noel’s presence in Iberian meats and secure supply of raw materials for both fresh and processed products over the medium and long term, Noel added. Albert Boix, managing ...