- The purpose of this agreement is to develop a joint brand project bringing together the synergies of both companies to create shared value, and to serve as a platform for future growth in the Spanish and international markets.
- In 2019, the Burgos company’s turnover was more than 63 million euros, growing 16% compared to the previous year.
- The resulting joint sales volume in the cheese market will exceed 95 million euros, placing the companies as one of the 10 largest cheese operators in Spain.
On 14 January, CAPSA FOOD signed the purchase agreement to acquire 50% of “LÁCTEAS FLOR DE BURGOS SL”, which to date belonged entirely to the Angulo Family, which began operating in the cheese market in 1915. The fourth generation of the family created this company in 2003, which produces fresh cheese and dairy products under the “Flor de Burgos” brand and which also has modern facilities with efficient production in the town of Burgos.
In 2019, the Burgos cheese company’s turnover was more than 63 million euros, having grown 16.5% over the previous year and 175% in the last five years. CAPSA FOOD’s turnover in 2018 was 738 million euros, 6.1% higher than in 2017.
The purpose of this agreement is to develop a joint brand project, combining the synergies of both companies to create shared value. The resulting joint sales volume in the cheese market will exceed 95 million euros, which will place the companies as one of the 10 largest cheese operators in Spain.
With this operation, and through this new joint project, CAPSA FOOD reinforces its commitment to the cheese and fresh products market, in the process of open diversification within the company and with a solid focus on growth in Spain and abroad. Today, LÁCTEAS “FLOR DE BURGOS SL” international sales represents 10% of its turnover, while CAPSA FOOD’s sales in the international market are close to 8% of its turnover.
Industrial management will continue to be led by the Angulo family, which has specialist knowledge and know-how in this area and modern and technologically advanced facilities. CAPSA FOOD will bring to the project its experience in developing and managing leading brands, as well as its sales force in the different marketing channels, which are added to the current alliance maintained by “LÁCTEAS FLOR DE BURGOS SL” with the TGT Group, its current business partner, and which will remain in the project.
Javier Angulo will continue as chief executive and a joint board of directors with an equal number of representatives from both companies will be created for corporate governance.
CAPSA FOOD and “LÁCTEAS FLOR DE BURGOS SL” aim to accelerate growth by introducing new references and entering new international markets, seeking leadership in the cheese and fresh products category.
With the consolidation of this operation, CAPSA FOOD expects to close 2020 with turnover of more than 800 million euros, under the new 2020-2025 Strategic Plan.