Farggi advised by Rousaud Costas Duran on €40m investment from Black Toro

RCD – Rousaud Costas Duran advised Grupo Farga on a €40 million investment in its subsidiary Farggi by Black Toro Capital.

The funding provided by Black Toro – which instructed Cuatrecasas on the deal – to ice cream producer Farggi consisted of a mix of convertible debt (90 per cent) and equity (10 per cent).

Farggi will use the funding to support its acquisition of La Menorquina, the Iberian branch of Canary Islands-based ice cream manufacturer Grupo Kalise Menorquina.

Farggi’s business plan involves selling the company’s existing plant and transferring all production to Menorquina’s facility in order to “optimise utilization”, according to a statement.