Keyhaven Capital Partners backs Alantra’s acquisition of Surexport, followed by three strategic add-on acquisitions
- Keyhaven Capital Partners initially invested in Surexport in April 2021, backing Alantra Private Equity (“Alantra”)
- Surexport is Europe’s leading independent producer and distributor of fresh berries with unique access to key European retailers on the back of a year-round offering of exclusive berry varieties
- Three recently completed add-on acquisitions increase production capabilities, further diversify the group’s offering and boost all-year round product availability
Keyhaven Capital Partners (“Keyhaven”), the specialist secondaries private equity firm dedicated to the European lower mid-market, has backed Alantra in its acquisition of Surexport, Europe’s leading independent producer and distributor of fresh berries.
Headquartered in Huelva in Spain, Surexport offers a comprehensive and differentiated product portfolio, with a diversified geographic footprint both in terms of revenue and production. The business benefits from an international client base, complementary production facilities, and an extensive and widespread distribution network. Surexport has best-in-class logistics and processing capabilities, including a state-of-the-art packaging facility in Huelva.
An ideal platform to consolidate a highly fragmented sector, Surexport recently completed three acquisitions: Solana, a Portuguese raspberry producer based in the Algarve; AG Group, a Northern Moroccan blueberry producer; and Flor de Doñana, a Spanish organic berry producer. These strategic and complementary acquisitions will strengthen and further diversify the group’s product offering. It will also boost year-round product availability and production capabilities, in addition to widening Surexport’s distribution network and customer base.
Teddy Mouawad, Partner at Keyhaven said: “We are thrilled to be partnering with Alantra to support the growth strategy of Surexport, led by the CEO and founder, Andrés Morales, alongside a strengthened management team. The completion of the three add-on acquisitions marks a significant milestone in the company’s evolution, putting Surexport in a prime position as a clear European industry leader.”
Ángel Manotas, Managing Director at Alantra commented: “Prior to entering the company’s shareholding we identified inorganic growth as a key strategic pillar for Surexport to become the largest European producer of fresh berries. In this sense, we decided to partner alongside Keyhaven and other co-investors to support Surexport as the leading platform to successfully consolidate a highly fragmented sector.”
About Keyhaven Capital Partners
Keyhaven is a specialist secondaries private equity firm dedicated to the European lower mid-market. With a diverse team, a network embedded in local markets and a flexible approach to deal making, Keyhaven works with industry leaders to accelerate growth, building robust, sustainable businesses that deliver for their investors, employees and local communities.
Since its foundation in 2003, Keyhaven has invested or advised on in excess of €2 billion and made more than 60 secondaries investments in Europe.
About Alantra Private Equity
Alantra Private Equity is one of the leading private equity firms in the Iberian market with over 30 years of investment experience, driving growth in upper mid-market companies through organic and inorganic internationalisation. They have a strong track record in investing in key sectors of the Iberian economy, including Food and Beverage, Industrial Technology, and Healthcare. Alantra Private Equity is part of the wider Alantra Group, which is a global investment banking, credit portfolio advisory and alternative asset management firm focusing on the mid-market with offices across Europe, the US, Latin America and Asia. The Group has over 555 professionals representing 35 nationalities in 25 offices.
For all media enquiries, please contact:
Instinctif Partners
Giulia Lasagni/ Amy Drawbell
Keyhaven@instinctif.com
+44 20 7457 2020