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Global private equity group InvestIndustrial has signed an agreement to acquire a majority stake in Spanish ice cream producer Grupo Alacant.

Headquartered in Alicante, Spain, Grupo Alacant was founded in 1972 by over 30 ice cream makers. The company primarily focuses on private label ice cream for modern retail clients and co-manufacturing for leading branded ice cream companies. Its product portfolio includes bulk ice cream, tubs, cones, extrusion sticks, sandwiches and more.

In 2024, Grupo Alacant reported approximately €225 million in revenue. The business operates four manufacturing plants located around Alicante, Murcia and Madrid, employing approximately 850 people.

The acquisition is said to mark a significant step for Grupo Alacant as it seeks to enhance its service to key customers in Spain while strengthening its industrial capabilities through significant investments. The company also aims to accelerate its international growth strategy, both organically and through acquisitions, positioning itself as one of Europe’s leading independent private label ice cream manufacturers.

Andrea C. Bonomi, chairman of Investindustrial's advisory board, commented: “Grupo Alacant operates in an industry very well-known to Investindustrial due to our prior and current investments in the private label food category. We are proud to invest in Grupo Alacant since we believe we can help the company in its next phase of development as it looks to strengthen its position in Spain and expand beyond its home market. Grupo Alacant is well-positioned for success driven by the support of our international development offices and the expertise of our operational improvement team.”

Joaquin Lancis, CEO of Grupo Alacant, added: “We are very excited to partner with Investindustrial as we look to further reinforce our position with our key customers and to grow the company further outside of Spain. Given Investindustrial’s track record and deep knowledge of the private label food category, we strongly believe it is the right shareholder to further support Grupo Alacant while strengthening the operational footprint. We are confident that Investindustrial’s experience and contribution will allow Grupo Alacant to become a leading player in the European market."

Terms of the transaction were not disclosed.