Noel Alimentaria takes minority stake in Garrudo Benito

Core Insights - Noel Alimentaria has acquired a 25% stake in Garrudo Benito, with plans to increase this to 50% by 2028 to enhance its presence in the Iberian meat market and secure raw material supply [1][3] - The partnership aims to double Iberian product sales and support international expansion, leveraging Garrudo Benito's expertise and premium product offerings [2][3] Group 1: Acquisition Details - The financial terms of the acquisition were not disclosed, but Noel aims to gradually increase its stake in Garrudo Benito [1] - The acquisition is part of a strategy to secure and expand Noel's presence in the Iberian meats sector [1] Group 2: Company Background - Garrudo Benito, founded in 1967 and based in Piedrahíta, operates the only Iberian pig slaughterhouse and cutting plant approved by Marks & Spencer in the UK [2] - Noel Alimentaria produces a variety of products including cooked and cured ham, charcuterie, and ready-made items, with a brand portfolio that includes Delizias Finas and Fuet/Serrano [3] Group 3: Market Strategy and Expansion - The companies are responding to rising consumption of Iberian ham, particularly 100% acorn-fed products, and plan to invest in a new curing facility with a capacity of 500,000 Iberian hams per year [4] - The partnership will focus on joint product development, including sliced items for gourmet and mass retail channels, targeting both domestic and export markets [4][5]