Spanish cereal producer Haricaman has welcomed agri-food investor Unigrains as a minority stakeholder.
The financial specifics of this arrangement remain undisclosed.
Haricaman, a family-run company based in Añover de Tajo in central Spain, specializes in providing breakfast cereals, flours, and breadcrumbs primarily for private-label brands aimed at retailers and industrial clients.
The company has ambitious plans to enhance its breakfast cereal offerings by expanding its product line and establishing two additional manufacturing facilities.
With a workforce of approximately 200, the organization also aims to introduce rice, corn, and legume crisps, enhance its gluten-free range, and “streamline operations and capacity.”
Under the leadership of CEO Nicolás Rodríguez Cuéllar and predominantly owned by the Rodríguez Cuéllar family, Haricaman is targeting revenues exceeding €50 million ($57 million) by 2026.
Rodríguez Cuéllar noted, “With Unigrains Iberia, we have found a sector-specialized partner that understands both the specific characteristics of our industry and the particular considerations of a family-owned business.”
Earlier this month, Unigrains exited its investment in Spanish convenience food manufacturer Ñaming when it was acquired by local food producer Palacios Alimentación.
Last year, Unigrains also made an investment in Italian bakery group L’Albero del Pane.
Álvaro Hernández, CEO of Unigrains’ Iberian division, commented, “Haricaman has established a distinctive presence in the Spanish market, showcasing robust industrial expertise, a culture of entrepreneurship, and a solid track record of innovation.”
He added, “Its emphasis on grain-based products aligns seamlessly with Unigrains’ core values and deep-rooted knowledge, and we eagerly anticipate aiding the company in its forthcoming phase of sustainable growth.”