Capsa Food Secures Full Ownership of Lácteas Flor de Burgos
Source: The DairyNews
Capsa Food Secures Full Ownership of Lácteas Flor de Burgos, Reinforces Spanish Dairy Leadership
Asturias-based Capsa Food, a prominent local dairy products manufacturer, has acquired the remaining 50% stake in Lácteas Flor de Burgos, completing the full ownership of the Spanish dairy business. The initial 50% was acquired in 2020 from Lactan Holding Group. The undisclosed transaction now gives Capsa Food control over the seventh factory located in Burgos, Castilla Leon.
This strategic move solidifies Capsa Food's position as the seventh-largest player in the Spanish cheese market. Notable brands in its portfolio include the Cabrales Central Lechera Asturiana cheese and the Larsa line of Galician cheeses. Capsa Food's product range extends to milk, butter, and cream supplied to retailers, with the company also operating the Innova Food Ingredients arm, catering to food manufacturers.
CEO José Armando Tellado expressed enthusiasm about completing the acquisition, emphasizing Capsa Food's commitment to reinforcing its leadership in the Spanish dairy sector and strengthening its presence in the cheese market.
Flor de Burgos, based in the Spanish province of the same name, has been manufacturing cheese, milk, yogurt, and cream since its founding in 2003. The acquisition is expected to contribute to Capsa Food's ambitious goal of achieving a turnover of more than €1bn in the current year.
As of the 2022 financial year, Capsa Food reported a turnover of €895m, reflecting an 18% increase. Net profit, however, experienced a 73% decline to €5.1m, attributed to inflation-related higher ingredient costs and the war in Ukraine.
Capsa Food, a B-Corp certified company, operates six other production facilities across Asturias and Galicia, along with locations in Madrid and Catalonia. In 2022, the company entered a plant-based alternative milk drinks partnership with Spain's Liquats Vegetals, launching the Vegetanea line the same year. Liquats Vegetals specializes in producing beverages made from oats, almonds, soy, and rice.
This strategic move solidifies Capsa Food's position as the seventh-largest player in the Spanish cheese market. Notable brands in its portfolio include the Cabrales Central Lechera Asturiana cheese and the Larsa line of Galician cheeses. Capsa Food's product range extends to milk, butter, and cream supplied to retailers, with the company also operating the Innova Food Ingredients arm, catering to food manufacturers.
CEO José Armando Tellado expressed enthusiasm about completing the acquisition, emphasizing Capsa Food's commitment to reinforcing its leadership in the Spanish dairy sector and strengthening its presence in the cheese market.
Flor de Burgos, based in the Spanish province of the same name, has been manufacturing cheese, milk, yogurt, and cream since its founding in 2003. The acquisition is expected to contribute to Capsa Food's ambitious goal of achieving a turnover of more than €1bn in the current year.
As of the 2022 financial year, Capsa Food reported a turnover of €895m, reflecting an 18% increase. Net profit, however, experienced a 73% decline to €5.1m, attributed to inflation-related higher ingredient costs and the war in Ukraine.
Capsa Food, a B-Corp certified company, operates six other production facilities across Asturias and Galicia, along with locations in Madrid and Catalonia. In 2022, the company entered a plant-based alternative milk drinks partnership with Spain's Liquats Vegetals, launching the Vegetanea line the same year. Liquats Vegetals specializes in producing beverages made from oats, almonds, soy, and rice.
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