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M&A Consultants specializing in the agrifood sector
M&A: Specialists in the agrifood sector
Advisors on the sale, purchase and valuation of agrifood companies, with knowledge of the entire value chain, from producer to distribution.
50 years of experience advising on corporate transactions
2025
Grupo Mazana acquires the majority of Sigma Kreas
Sell-side financial and legal advisor
2025
Navarra de Participaciones Industriales acquires 100% of Embutidos La Hoguera
Sell-side financial and legal advisor
2024
Comercial Hostelera, owned by Stellum Food&Tech, acquires Ibertrasa
Buy-side financial and legal advisor
2024
STELLUM FOOD&TECH becomes a shareholder of URKABE BENETAN
Sell-side financial and legal advisor
2024
Grupo POMONA acquires Congelados DIL
Buy-side financial advisor
2024
Navarra de Participaciones Industriales acquires 100% of Cárnicas Galar
Sell-side financial and legal advisor
2023
Pomona acquires Sanamar
Buy-side financial advisor
2023
Stellum Capital acquires en equity stake of Comercial Hostelera
Sell-side financial and legal advisor
2023
Sepides signed a 20 million Euro loan agreement to El Encinar de Humienta
Financial advisor
2022
Pomona acquires Novafrigo
Buy-side advisor
2021
Llusar acquires Naranjas Torres
Buy-side advisor
2020
MCH PE and SanLucar Fruit invest in the equity of Llusar
Buy-side advisor
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First independent M&A boutique in Spain by number of transactions.
We closed 2025 with 15 M&A transactions, 14 of which are included in the Bloomberg ranking.
The increasing role of international investors (30%) and Private Equity (53%) supports our ability to execute in a competitive environment.
Bloomberg - Financial Advisors Ranking
Total M&A transactions during 2025
1. PwC
113
2. EY
42
3. BNP Paribas
21
4. JP Morgan
19
5. Alantra Partners SA
18
6. Banco Santander
17
7. Goldman Sachs
15
8. Lazard
15
9. Rothschild & Co
15
10. NORGESTION
14
10. BBVA
14
10. KPMG Corp Finance
14
Our work is defined solely by integrity, honesty, and an unwavering commitment.
Marta Vera
Partner
Crossborder:
More than 30% of our closed transactions are international
Local presence in the main world markets.
Mergers Alliance has proprietary tools that allow all its partners, currently present in more than 20 countries with more than 30 offices worldwide, a high level of collaboration and integration.
Operating 22 countries, 39 offices
Vocación internacional
Local presence in key markets through Mergers Alliance
Amsterdam, Bangkok, Barcelona, Beijing, Bengaluru, Bilbao, Bogotá, Chicago, Stockholm, Gurgaon, Hamburg, Helsinki, Ho Chi Minh City, Hong Kong, Cologne, Lima, London, Madrid, Miami, Milan, Montreal, Mumbai, Munich, Navarre, New Delhi, New York, Palo Alto, Pamplona, Paris, Rio de Janeiro, San Sebastian, Santa Monica, Santiago, São Paulo, Seville, Shanghai, Singapore, Sydney, Tokyo, Toronto, Utrecht, Warsaw, Zug, Zurich
M&A company in the technology sector
The agrifood sector in the M&A market
The agrifood sector spans an entire value chain, from raw material producers to the point of sale, with processors and distribution in between. In an M&A transaction, understanding where a company sits within that chain, and how it relates to the other links, is one of the starting points of any valuation.
The sector is moving in several directions at once. Producers are gaining scale and integrating activities to get closer to consumption, processors seek size to strengthen their position, and retailers increasingly influence what is produced, in what format and to what specification — an influence that reaches the Horeca channel (hotels, restaurants and catering). These are dynamics worth analyzing, because they help define who the right buyer may be and what weighs on the price.
For an owner considering selling, buying or bringing in a partner, understanding the context in which the transaction takes place matters as much as the business itself. Specialized advice in the sector is essential to interpret these dynamics, anticipate the buyer's questions and approach the transaction with sound judgement.
Drivers of transactional activity in the sector
Increased demand
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The acceleration in the needs of companies for digitalization and process automation has increased the demand for technological solutions. Operators who can offer innovative products or services have a competitive advantage in this expanding market.
Attractive to investors
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In almost every subsector, companies are gaining scale, and many are integrating along the chain — towards raw materials or towards consumption — to strengthen their margin, control and predictability. This movement opens opportunities in both directions: leading the consolidation of one's own subsector, or joining a larger group that allows further growth. It is a very active field for acquisitions and for buy-and-build processes led by both industrial players and funds.
Diversification of opportunities
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The expansion of the sector encompasses a wide range of entities, from startups to well-established companies. This opens up a range of opportunities for collaborations, strategic alliances and exploration of new market niches.
Specialization of the investment ecosystem
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There is a growing trend toward specialized investment in specific technology markets. Companies that operate in particular niches or that offer innovative solutions can attract the interest of these specialized investors, thus obtaining an additional boost for their growth and development.
The technology sector in Spain
The food and beverage industry accounts for more than 2% of Spain's GDP and over 20% of all manufacturing, employs close to half a million people and posted its best export figures ever in 2025. It is also a highly atomized sector: mostly SMEs with strong brands and profitable plants. That combination — a large, export-driven sector that is nonetheless fragmented and in full transformation — is what generates M&A opportunities, and what makes specialized advice the difference.
Subsectors we work in
Comprehensive operations management strategy
2. Strategic solutions for challenges in the technology sector.
A working-capital-intensive, highly automated subsector, where control of raw materials and scale are decisive. It appeals equally to industrial and financial buyers.
3. Dairy
Mid-sized, family-owned processors that negotiate with both large raw material conglomerates and major retail chains. This subsector is currently undergoing a major reorganization, marked by sales, the entry of new partners, and industry consolidation.
4. Fruit, vegetables and canned food
From fruit and vegetable growers to canneries, a subsector shaped by private label, seasonality and the demands of large retailers, which push towards consolidation and scale.
5. Wine and beverages
Wineries and branded beverage companies, where valuations blend assets, brand equity, and distribution channels, and where the family component plays a significant role in every transaction.
Ready-to-eat meals and food distribution
The segment with the highest convergence between industrial and financial buyers, and the point where distribution and the Horeca channel intersect with the product. A rapidly expanding sector and one of the most active in M&A.
1. Comprehensive strategy in the management of business transactions.
Our distinctive approach lies in the integration of experts in finance, law and taxation, collaborating closely from the start of the sales process. This interdisciplinary synergy guarantees the optimization of results and efficient management of the process, reducing the impact on the company's daily operations.
M&A Agrifood and specialty food sector
Specialized M&A advisory for the agrifood sector
NORGESTION provides advisory services to companies in the agrifood sector on corporate transactions, including company sales, the entry of financial partners, acquisitions, mergers, and restructurings. We work with business owners, entrepreneurial families, and investment funds operating within the Spanish and European agrifood landscape.
Valuation tailored to the agrifood sector
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Valuing an agrifood company goes beyond simply applying a multiple. Factors such as working capital, the real estate footprint of facilities, relationships with key accounts, and positioning within the supply chain all carry significant weight. The result is a valuation that truly reflects what the company is worth to a strategic buyer in the sector.
Sell-side preparation
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Part of a transaction's value is determined during the preparation phase: organizing permits and licenses, segregating real estate assets, optimizing working capital, and normalizing EBITDA. This rigorous analysis ensures the company approaches the process under the best possible conditions, with key arguments already validated.
Due diligence and process management
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The points a buyer scrutinizes (old licences, environmental requirements, waste treatment) are best anticipated so as to reach due diligence with the answers ready. The process is managed with care for timing and confidentiality, which in a family business are worth as much as the price.
Buyer identification and competitive process management
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Identifying the right buyer is half the battle. A well-designed competitive process highlights your company’s value to the ideal profiles—whether industrial players, private equity firms, or family offices—both within Spain and abroad, thanks to our dedicated international reach.
50 years of experience and international reach in M&A
Agrifood M&A Consulting
There are three cross-cutting pillars that mark our line of work at Mergers & Acquisitions, and they are what have led us to be the reference firm that we are today.
Commitment
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We manage each operation meticulously and with all our involvement, aligning decisions with the company's strategic and financial objectives.
Confidentiality
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We safeguard the integrity of the operation and the interests of all parties, understanding the high sensitivity of the information involved and its potential repercussions.
Transparency
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We provide a clear perspective of each stage, with proactive and accurate communication, strengthening the alignment of expectations and objectives between consultants and clients.
Experience
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We have spent decades advising on transactions within the agrifood sector. We know the key players in every subsector, understand the value chain from producer to retailer, and know how to align the realities of family-owned businesses with the expectations of financial investors.
Contact us
Experience and vision in M&A: General service
We transform the complexity of mergers and acquisitions into a controlled process that places your company in a favorable position with reputable experts with extensive experience in M&A operations.
Corporate Finance
We provide expert advice on mergers, acquisitions and financial restructurings, along with detailed analysis and financing strategies to maximize the value and growth potential of companies.
Our offices