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Antitrust: ok the acquisition of Lagumar Seas by Pai Partners

The transaction in Italy concerns Riunione Industrie Alimentari and doesn't create a dominant position

Green light by the Italian antitrust to the acquisition of the Spanish group Lagumar Seas (parent of the Iberian fish brand Angulas Aguinaga, 220 million euros in turnover in 2019) by Maverick Directorship SL, a subsidiary of the international private fund equity Pai Partners. For the Agcm, in fact, the transaction does not constitute a strengthening of a dominant position on the Italian market. The bulletin of the Authority of 4 January gives notice. Lagumar Seas SL is a Spanish company that controls Riunione Industrie Alimentari, the only company of the group operating on the Italian market (together with Regal Fish, controlled by Riunione, which however carries out its sales exclusively to the latter). Réunion is active in the marketing of smoked salmon and, to a marginal extent, other seafood products.

The operation consists in the acquisition by Maverick of the entire share capital of Lagumar Seas SL, its subsidiary Riunione and some companies of the Lagumar Group (Nakulas SL and Viveros Merimar SL), as well as 90% of the share capital of other companies of the Lagumar Group (Mariscos Linamar SL, Depuradora de Moluscos La Sirena SL and Depuradora de Moluscos de Canarias SL). The Italian Riunione was acquired by Angulas Aguinaga in 2019, while the Pai Mid-Market Fund took over the Spanish group in November 2020.

The PAI Group is a company incorporated under French law which controls various companies active in numerous sectors and, in particular, in the sectors of business services, food, consumer goods, industrial services and retail. As for the companies active in Italy, PAI controls, among others, the French company Labeyrie Fine Foods, operating in the food sector and, in particular, in the sale of smoked salmon. Furthermore, through Areas, it controls the activities of MyChef, one of the main Italian operators in concession catering.

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