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Private equity funds are interested in Herbex

Private equity funds and competitors of Herbex, a Spanish herb grower, have contacted the Nazca fund to discuss a possible partnership or acquisition. According to elEconomista.es, the fund has approached Banco Sabadell to study a potential divestment, although the priority is to bring in a new equity partner. The value of such a transaction could exceed 60 million euros.

Herbex, based in Almería, has 500 hectares of cultivation land and packing stations in and outside Spain. The company has undergone a reorganization in the past year that has more than doubled its pre-tax profit (EBITDA) to 7.1 million euros.

The company offers a wide range of products and supplies to more than 26 countries all year round. Sales to the international market now account for 65% of its turnover. It sells more than 42 types of herbs, such as basil, chives, coriander, mint, and dill. In addition, the company grows seasonal products such as chili peppers and various vegetables.

Nazca is currently not interested in selling Herbex. However, it is open to having a new investor through a partial sale of shares, a capital increase, or a combination of both. This is part of a broader growth strategy that includes the possible acquisition or integration of a medium-sized European company.

Latest figures show that Nazca holds a majority stake of 93.69% in Herbex, with the remaining shares held by Jaime Visquert, the company's founder. A possible partial sale could generate significant profits for Nazca, as the company was originally acquired for 16.9 million euros, including an additional loan, according to data from the Spanish Financial Supervisory Authority.

Source: eleconomista.es

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