Stellum Food&Tech joins Urkabe Benetan’s shareholding: Advisors

Stellum Food&Tech I, an investment vehicle of the private equity firm Stellum Capital, has joined Urkabe Benetan’s shareholding to boost its growth and international presence. The private equity manager has taken a 31.5% stake mainly through a capital increase in the Gipuzkoan company.

Urkabe Benetan is part of the food business of Grupo Indaux, a holding company led by several Basque families. The company has an ambitious business plan, both organic and inorganic, focused on strengthening its position as a benchmark for various frozen and refrigerated products under the private label of the main supermarket chains, on strengthening its presence in the national Horeca channel and on accelerating its international expansion.

The company has managed to become one of the benchmarks in the retail of frozen products under private label, with croquettes being its star product, adapting customized solutions for each customer. In addition, under the Urkabe brand, it produces and distributes refrigerated sausages and pre-cooked products, being one of the leaders in this product family in the Basque Country and Navarre.

The entry of the Stellum Food&Tech I fund in Urkabe Benetan strengthens the company’s resources to tackle the growth plan, which in recent years has achieved a turnover of 26 million euros, with a team of more than 100 people at its facilities in Rentería.

Advisors

Urkabe Benetan has carried out the process hand in hand with the firm Norgestión with a team formed by the legal advisors Ane Alkorta (partner), Nikole Agirretxea (lawyer) and Inés Uriarte (lawyer).