Grupo Lacor-Ibili Strengthens Market Presence through JAY Industrial Acquisition
Deal News | Nov 21, 2024 | Iberian Lawyer
Grupo Lacor-Ibili, based in Guipuzcoa, has successfully acquired JAY Industrial Cubertera de Galicia as part of its strategic plan to grow its presence in the kitchenware and hospitality sector. Both family-owned businesses are known for their extensive experience in their field, and this merger aims to position them as leading players in the industry. Under the deal's terms, JAY Industrial will maintain its operations and further expand manufacturing facilities by 10,000 square meters. The consolidation expects to boost Grupo Lacor-Ibili’s turnover to 100 million euros with 200 employees in the coming years. The acquisition was facilitated with legal and financial advice by Norgestion, highlighting the expertise of their legal team, including Ane Alkorta, Ins Uriarte, and Alex Laskurain. Grupo Lacor-Ibili's CEO, Izaskun Larraaga, reiterates the company's goal to diversify its product offerings and provide superior customer service.
Sectors
- Kitchenware and Hospitality
- Legal and Financial Advisory
Geography
- Spain – Both Grupo Lacor-Ibili and JAY Industrial Cubertera de Galicia are Spain-based companies, emphasizing the regional context of the acquisition.
Industry
- Kitchenware and Hospitality – Both Grupo Lacor-Ibili and JAY Industrial operate in the kitchenware and hospitality sector, focusing on expanding product offerings and market reach.
- Legal and Financial Advisory – Norgestion provided legal and financial advisory services to Grupo Lacor-Ibili for the acquisition process.
Financials
- 100 million euros – Expected turnover for Grupo Lacor-Ibili in the coming years following the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Grupo Lacor-Ibili | Bidding Company/Buyer | Company | A company from Guipuzcoa, focused on kitchenware and hospitality, looking to expand its market presence. |
| JAY Industrial Cubertera de Galicia | Target Company | Company | A family-owned company with extensive experience in the kitchenware sector, acquired by Grupo Lacor-Ibili. |
| Norgestion | Financial and Legal Advisor | Company | Advised Grupo Lacor-Ibili on financial and legal aspects of the acquisition. |
| Izaskun Larraaga | CEO | Person | CEO of Grupo Lacor-Ibili, stated the company's strategic goals post-acquisition. |
| Ane Alkorta | Partner | Person | Part of the legal team from Norgestion advising the acquisition. |
| Ins Uriarte | Lawyer | Person | Part of the legal team from Norgestion advising the acquisition. |
| Alex Laskurain | Tax Partner | Person | Part of the legal team from Norgestion advising the acquisition. |