Latham & Watkins and EY advise on Platinum Equity-Iberconsa deal

Latham & Watkins advised Platinum Equity on the acquisition of a majority stake in Grupo Ibérica de Congelados (Iberconsa) from Portobello Capital and affiliates of the company’s founding families.

EY advised the sellers on the deal.

A statement said Portobello Capital and members of the Iberconsa management team are co-investing, alongside Platinum Equity. Financial terms were not disclosed.

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

Platinum Equity has approximately $13 billion of assets under management.