Grupo Lacor-Ibili Expands Product Line with JAY Acquisition
Deal News | Nov 21, 2024 | Finance Community ES 2 - Corporate M&A
In a notable transaction in the kitchenware and hospitality sector, Grupo Lacor-Ibili, a family-run Spanish company from Guipuzcoa, has acquired JAY Industrial Cubertera, another family-owned business based in Galicia. The pairing of these two companies aims to solidify their position as a leading force in their industry. With this acquisition, Grupo Lacor-Ibili will significantly expand its product offerings while enabling JAY Industrial Cubertera to continue its market presence under its founding family's guidance. Together, they anticipate reaching a turnover of €100 million in the coming years while employing about 200 people. As part of the acquisition, JAY Industrial's facilities will continue to operate at full capacity, adding an additional 10,000 square meters to Grupo Lacor-Ibili’s production facilities. Izaskun Larraaga, CEO of Grupo Lacor-Ibili, states that the primary goal remains to grow within the sector by providing high-quality products to their clients—a philosophy that has consistently guided the company. The transaction was advised by Norgestion.
Sectors
- Kitchenware & Hospitality
- Mergers & Acquisitions
Geography
- Spain – The companies involved in the transaction, Grupo Lacor-Ibili and JAY Industrial Cubertera, are both based in Spain, making it the primary geography for this article.
Industry
- Kitchenware & Hospitality – Both Grupo Lacor-Ibili and JAY Industrial Cubertera operate within this industry, focusing on products for kitchenware and hospitality, making it the core sector for this acquisition.
- Mergers & Acquisitions – The article discusses an acquisition transaction between Grupo Lacor-Ibili and JAY Industrial Cubertera, which is central to M&A activities.
Financials
- €100 million – Projected turnover in the coming years as a result of the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Grupo Lacor-Ibili | Bidding Company | Company | A family-owned company from Guipuzcoa that has acquired JAY Industrial Cubertera to enhance its position in the kitchenware sector. |
| JAY Industrial Cubertera | Target Company | Company | A family-run business in Galicia acquired by Grupo Lacor-Ibili, known for its production in the kitchenware industry. |
| Norgestion | Advisor | Company | A financial advisory firm that advised Grupo Lacor-Ibili on the acquisition. |
| Izaskun Larraaga | CEO | Person | The CEO of Grupo Lacor-Ibili who is focused on expanding their product offerings and maintaining high-quality service. |