DeA Capital acquires Talde Private Equity’s stake in Ñaming, Spain’s leading sandwich company

• Taste of Italy 2 Fund, managed by DeA Capital Alternative Funds, partners with the management team of the fresh and ultra-fresh food elaborating group.

• Jorge Miranda, CEO of Ñaming-Sansala and member of the founding family, reinvests in the company and remains a minority partner in this new stage.

• DeA Capital’s investment has given Talde Private Equity the exit as a shareholder of Ñaming, and will reinforce the group’s growth in the Iberian Peninsula.

Madrid, Milan, 6 June 2024.- Taste of Italy 2 Investment Fund, managed by DeA Capital Alternative Funds SGR, has signed a binding agreement to acquire a majority stake in Grupo Ñaming (Ñaming-Sansala), Spain’s leading company in the elaboration of sandwiches, fresh and ultra-fresh products, in order to drive its growth in the Iberian Peninsula. To date, the company was owned by Talde Private Equity and Jorge Miranda, CEO and member of the founding family, who has reinvested in the company and remains a minority partner in this new stage. The transaction is submitted to the National Commission on Markets and Competition (CNMC), the Spanish regulatory authority, for approval.

Founded in 1990 and headquartered in Mallén (Zaragoza), Ñaming has consolidated as the leader in the sandwich market in Spain with sustained double-digit growth over the last years. Its wide catalogue of ready-to-eat products ranges from sandwiches and snacks to salads, wraps, yoghurts, cut fruit, smoothies and desserts. With a turnover of €40.5 million and a team of 350 employees, the company is finalising the launch of a new product range. This step is framed within its strategy of diversifying its offer, thus reinforcing its commitment to innovation and service excellence, two key elements of its success.

The Group, IFS Food certified in its two plants in Mallén (Zaragoza) and Madrid, manufactures more than 160,000 units a day with the highest quality and safety standards.

The acquisition of Ñaming Group is DeA Capital’s third investment in Spain, following Alimentación y Nutrición Familiar (Alnut), a supplier to Mercadona, and the acquisition of a significant stake in the restaurant chain Pizzerías Carlos.

Leopoldo Reaño, Managing Director of DeA Capital Alternative Funds, confirms that “We are excited to support Ñaming and its team led by Jorge Miranda in its expansion project and to face the new challenges of production and supply in response to the growing demand experienced by the Group as a leader and reference player in the sandwich industry in Spain”.

Jorge Miranda, CEO of Ñaming , is pleased with the transaction which “Represents an important impulse for the growth of the company and the development of its team. With more than 34 years in business, as well as a recognition of the trajectory and potential of Ñaming-Sansala and its growing reputation thanks to its great quality, convenience, and price”.

According to Talde Private Equity, “We are satisfied of the road undertaken by Ñaming during these 10 years as a shareholder and having been part of the consolidation of the national leader in the sandwich business in Spain”.

DeA Capital Alternative Funds has been advised by Arcano (financial) and Eversheds Sutherland Spain (legal), supported by PwC (Financial, Legal, Tax and Employment DD), KPMG (Commercial DD) and BMS Group (Insurance DD and R&W Insurance Trading). Funds advised by Muzinich have subscribed the financing for investment and future growth of Ñaming. Talde Private Equity has been advised by Socios Corporate Finance and Deloitte.

About Ñaming

Ñaming is the leading company in the production and distribution of B2B sandwiches and fresh, ready-to-eat meals in Spain, a growing industry that has gained popularity, especially in large urban centres and service stations, thanks to its quality, convenience and price. The company, certified with the most demanding global food safety certification (IFS Food), is distinguished by its focus on innovation, by constantly and proactively offering new products to its customers. It currently has 12 branches and almost 40 of its own routes throughout the entire country. More information: https://www.n-aming.es

About Taste of Italy 2 y DeA Capital Alternative Funds

Taste of Italy 2 is a private equity fund for institutional investors with €330M of subscribed capital, managed by DeA Capital Alternative Funds SGR S.p.A. The fund invests in leading companies in Italy and the Iberian Peninsula within the food and beverage sector and the entire service supply chain.

DeA Capital Alternative Funds SGR S.p.A., founded in December 2006, is entirely owned by DeA Capital S.p.A., a De Agostini Group company. The asset management company, established in Spain in 2019 and led by Leopoldo Reaño (Managing Director), is the leading independent alternative asset management company in Italy, with more than €6 billion of assets under management and more than 70 employees based in its offices in Milan and Madrid. In 2024, the firm will celebrate the fifth anniversary of its arrival in Spain with a local office and team. More information: www.deacapitalaf.com

About Talde Private Equity

Founded in 1976, Talde Private Equity is specialized in alternative investments with a priority focus on small and medium-sized Spanish companies. It currently manages more than 370 million euros in private equity and private debt, after initiating a new stage of growth with the creation of new investment strategies that complement its traditional activity. More information: www.talde.com