SPAIN’S biggest frozen food retailer has been snapped up by UK private equity house OpCapita.
La Sirena Alimentacion Congelada, which has 237 small stores catering for the busy metropolitan crowd in Catalonia and Madrid, was acquired with funds from OpCapita’s consumer opportunities fund.
It is the second transaction from the fund, which made its maiden deal with a takeover of clothing discounter NKD. OpCapita’s Stephen Alexander will become chairman of the group.
“We are excited to be adding La Sirena to our portfolio at a time of improving consumer confidence in Spain. La Sirena delivers a high quality offer to a loyal customer base through an efficient business model and competitive pricing,” he said.
OpCapita is well known for buying videogame retailer Game Retail in the UK and floating it on the stock market as Game Digital.