Acon Investments and DeA Capital acquire GPF Partners’ stake in Romar Global Care: Advisors
Acon Investments, and its affiliates, in partnership with an affiliate of DeA Capital Alternative Funds, have announced that they have acquired a controlling interest in Romar Care Group. RGC is a Spain-based manufacturer and distributor of consumer products related to personal care, home care and cosmetics.
RGC, based in Valencia, Spain, was formed in 2019 through the merger of Quimi Romar and Envasados Xiomara by GPF Partners. Since then, RCG has more than doubled its production capacity, expanded its sales channels, diversified its geographic footprint and driven growth in its portfolio of brands. RCG’s portfolio includes Agrado, Mayordomo, Amalfi, Sairo, Air Freshener, Destello and Garley, among others. The Company currently sells its extensive portfolio of products in over 100 countries. It has a presence throughout Europe as well as the Middle East, North Africa and Latin América, with 60% of its revenue coming from outside of Spain. Additionally, it operates subsidiaries in Morocco, Colombia and the U.K. Customers include El Corte Inglés, Carrefour, Lidl, Auchan, IFA, Euromadi, Primor and Druni, among others.
In 2023 RGC achieved €120 million of sales and launched a new state-of-the-art production facility in Sagunto, Valencia. The new plant is over 50,000 square meters and will enable the Company to continue its ambitious international expansion campaign.
RGC´s management team will maintain a material equity interest in the Company. They are fully committed to executing the Company’s expansion with an emphasis on ESG, digital transformation and sustainability. The new Sagunto plant has been designed to optimize efficiency, specifically energy savings, and has implemented the highest quality standards and certifications.
Advisors
RSM, Hogan Lovells and Ashurst have advised the buyers
RSM team, has advised Acon Investments, formed by partner Jordi Bellobí y Jose Merino (FAS), Victor Schrijner and Ferrán Gilibert (Legal), David Jimenez and Mencia Lapetra (tax).
The Ashurst team, advising DeA capital and the Sviluppo Sostenibile fund, has been led by partners Pedro Ester (Commercial Law in Madrid) and Fabio Niccoli (Commercial Law in Milan). The rest of the Madrid team consisted of Camilo Luna (Senior Associate in Commercial Law), Isabel Matute (Senior Associate in Commercial Law), María López Garayalde (Associate in Commercial Law), María Antonia de Prada (Senior Associate in Real Estate Law), Soledad Adell (Senior Associate in Public Law) and Alberto Rus (Associate in Public Law). From the Milan office, Andrea di Rosa (Commercial Law Counsel) and Carolina Quagliata (Commercial Law Associate) have been part of the team.
GPF was advised by Uria Menéndez.
Uría Menéndez team consisted of Francisco San Miguel (partner, M&A – Private Equity, Madrid); Manuel Delgado (senior associate, M&A – Private Equity, Madrid); and Teresa Ortega (graduate, M&A – Private Equity, Madrid).
