Founded in 2000, Foodiverse Group (Foodiverse) is a family-owned agri-food company based in Valencia, Spain, operating 17 farms throughout Spain and Italy, and 9 production plants across Europe
The Foodiverse product range consists of ready-to-eat fresh produce and ready-to-cook dishes, all distributed to 22 countries
Based in California, Taylor Farms is a leading North American producer of healthy fresh foods with production plants across the US, Canada and Mexico
Process
DC Advisory was appointed as financial advisor to Foodiverse for its refinancing and the subsequent investment from Taylor Farms
DC Advisory managed to refinance Foodiverse’s outstanding debt with the major Spanish banks, negotiating a more favorable repayment calendar and maintaining commercial conditions at a time of rising interest rates
DC Advisory undertook a competitive process to guarantee the stabilization of the business, ultimately selecting an investment by Taylor Farms
Outcome
The transaction, which was signed in July 2023 and closed in August 2023, combined the refinancing of Foodiverse’s outstanding debt with the Spanish financial entities and the investment from Taylor Farms
The transaction represents Taylor Farm’s entrance into the European market and highlights DC Advisory’s expertise in the Consumer, Leisure & Retail sector in Europe and the US
“The work and experience of the DC Advisory team have been essential to the success of the deal. In a highly complex environment, they have been able to understand the needs of all the parties involved, to structure a transaction and generate the trust necessary to reach a satisfactory agreement for all.”
“We appreciate the trust given to us by Foodiverse’s shareholder and management team in a very difficult situation for the company. It’s been a pleasure being involved in this transaction in which the company's positioning and technical capacity have allowed it to successfully overcome the difficulties it was facing.”
Joaquín Gonzalo, Managing Director, DC Advisory Spain
