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01/2025

DELAFRUIT acquired by ANDROS

SPAIN Food Processing / Beverages / Soft Drinks EV €100–350M

Context

Andros has signed an agreement to acquire 100% of Delafruit from the Spanish private equity firm ProA Capital. This strategic acquisition expands Andros' industrial footprint in Spain, adding a specialized facility in Tarragona to its existing plants in Cantabria and Granada. Under ProA Capital's ownership, Delafruit was spun off from Go Fruselva and diversified its portfolio beyond baby food into sports nutrition and adult snacking.

DELAFRUIT, which reported an EBITDA margin of [members only] in 2023, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, representing a discount to the average currently observed in the AgriFood sector (11.0x).

-> Deep-dive in AgriFood market trends

Target

Delafruit (formerly known as Dulces y Conservas El Goli) is a leading Spanish private-label manufacturer and co-packer specializing in high-value-added healthy food products, notably fruit purees, smoothies, and baby food in pouch formats. Headquartered in Tarragona, the company operates a state-of-the-art industrial complex with high-capacity production lines focused on pouch technology, a segment driven by the global trend toward "on-the-go" and healthy snacking. Its business model is built on long-term strategic partnerships with major European and international retailers and global FMCG brands, providing end-to-end solutions from product formulation and R&D to sustainable packaging and logistics. The organization is recognized for its rigorous food safety standards and its ability to process organic, sugar-free, and clean-label recipes at industrial scale. It exports 85% of its production to over 30 countries. In 2023, it produced 279 million units.

Ent. Value

€100–350M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2023
€100–200M
€5–25M
[members only]
2022
€100–200M
€5–25M
[members only]

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List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
04/2025WHAT S COOKING?SVELTICFRANCEFood Products
03/2025BRIDORLAURENT BAKERY GROUPAUSTRALIABakery / Pastry
11/2024UNEXO / UNIGRAINSSAVELFRANCEMeat & Cured Meat
11/2024REFRESCOFRÍAS NUTRICIÓNSPAINSoft Drinks
09/2024VALEO FOODS GROUPI.D.C. HOLDINGSLOVAKIAFood Products
09/2024AS EQUITY PARTNERSHOCHDORF SWISS NUTRITION (HSN)SWITZERLANDDairy
09/2024ONE ROCK CAPITAL PARTNERSEUROPE SNACKSFRANCEFood Products
08/2024CINVENVITAMIN WELLSWEDENSoft Drinks
07/2024AUSNUTRIA DAIRYAMALTHEANETHERLANDSDairy
07/2024EMMI GROUPMADEMOISELLE DESSERTSFRANCEBakery / Pastry

REFERENCES

Valuation range: EV €100–350M

Revenue range: €100–200M

EBITDA range: €5–25M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of DELAFRUIT by ANDROS are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: delafruit

Acquirer: andros