EY acts for Portobello Capital on Iberconsa deal

An EY team led by partner Francisco Aldavero (pictured) advised Portobello Capital on the sale of a majority stake in Grupo Ibérica de Congelados (Iberconsa) to Platinum Equity.

The EY team also included senior manager Carmen Esteban García-Bernalt.

Latham & Watkins advised Platinum Equity on the deal.

Portobello Capital and members of the Iberconsa management team will be minority investors alongside Platinum Equity.

The financial terms of the transaction were not disclosed. The deal is expected to close in the second quarter of 2019.

Headquartered in Vigo, Spain, Iberconsa is a global provider of frozen seafood products, including hake, Argentine red shrimp and squid.

Iberconsa maintains a fleet of 45 vessels, five processing plants and four cold storage distribution facilities. Iberconsa’s fleet operates primarily in Argentina, Namibia and South Africa, and the company’s products are sold in more than 60 countries.

Ben Cook