Stellum Capital invests in Spanish ham and croquette producer Urkabe Benetan

SPAIN – Stellum Capital, a prominent private-equity firm, has recently acquired a 31.5% stake in Urkabe Benetan, a renowned Spanish manufacturer specializing in frozen pre-cooked products and meat-based gastronomic solutions. 

This investment was made through Stellum Food & Tech, their food-focused investment arm, although specific financial terms were not disclosed.

Urkabe Benetan, part of the Indaux Group’s food division led by Basque families, has seen substantial growth, achieving a turnover of €26 million (US$28 million) and employing over 100 personnel at its Rentería facilities. 

Known for its popular offerings such as croquettes and cooked ham, the company aims to bolster its expansion strategy with the newly acquired resources from Stellum Capital.

Enrique Rioja, the board president of Urkabe Benetan, expressed satisfaction with Stellum Food & Tech’s involvement, seeing it as a validation of the company’s long-standing efforts to secure its current market position and a vote of confidence in its business model. 

Agustin del Canto, the company’s general director, highlighted that Stellum’s support goes beyond financial backing, emphasizing their strategic guidance, market insights, and valuable industry connections.

David Martínez, a partner at Stellum Food & Tech, praised Urkabe Benetan’s resilience in navigating a dynamic market landscape through diversification and unwavering commitment to product quality and customer service.

He underscored the importance of the company’s strong leadership and dedicated team in achieving sustainable growth and maintaining customer loyalty.

Urkabe Benetan marks Stellum Food & Tech’s eighth investment, joining a portfolio that includes notable entities like Uvesco, Envaplaster, and Syra Coffee. 

With this partnership, both parties anticipate leveraging their strengths to further enhance Urkabe Benetan’s market presence and capitalize on future growth opportunities in the food sector.

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