RC Law Advised Sellers of 67% of the Interests of Acornseekers to Incarlopsa

Incarlopsa, Mercadona’s main supplier of pork, has acquired 67% of the American company Acornseekers LLC, the Iberian ham producer founded in Texas (United States) by Spanish entrepreneurs Manuel Murga and Sergio Marsal. The American company, which began its journey by transporting 145 females and five males from Spain to its Texas farm via JFK Airport in New York, has been operating in this market for four years. Today they handle around 3,000 100% purebred Iberian acorn-fed specimens whose meat they market, “as well as having an important commercial network within the growing North American select market, with all the certifications and permits of The United States Department of Agriculture (USDA)”, Incarlopsa said in a statement on Tuesday.

The chief executive officer (CEO) of Incarlopsa, Clemente Loriente, said that the operation “is an important step in the internationalization strategy that the company has been following for some years. We have acquired a majority share because, for the future development of the company, it is essential to grow in the international business, guaranteeing quality and food security, within a context of increasing competitiveness and globalization, installing ourselves in the most important markets of the world ” .

The acquisition, from which Incalopsa has not offered any economic figure despite the request for information from El Confidencial, is part of the international expansion plans of the meat company, in line with other operations of Mercadona suppliers that have lost their exclusivity with the supermarket chain of Juan Roig and they are diversifying customers without entering into direct competition with their main buyer. Acornseekers began its journey in 2014 with an investment of five million dollars and a farm in the Texan town of Flatonia to become suppliers of Iberian ham from high-end restaurants in the United States. “This acquisition allows Incarlopsa to establish itself in a country that offers a very positive outlook in the sector in which it operates, with great business opportunities,” the same sources from the Tarancón company insist.

Loriente said that “Acornseekers will continue to participate, its founders as shareholders, who bring us their important experience and knowledge of the North American market and operations.” One of the company’s growth plans is to build in the United States an industry and hams dryer that allows the production of quality Iberian products for subsequent commercialization in the American continent.

The exit of the Iberian pigs abroad worries the producers installed in Spain, who remember that these ‘pata negra’ specimens and their meat do not have the designation of origin (DO) issued by the European Union. However, this does not seem to worry Acornseekers entrepreneurs in the American market. Even similar experiences have emerged, such as Iberian Pastures. Located south of Georgia, this meat producer was founded in 2015 by Kurt and Jaime Oriol, Americans of Spanish father, and Will Harris. They feed the pigs with peanuts and sell them as Iberian American through restoration channels and online, including Amazon.

Incarlopsa is on the radar of mutual funds and Chinese business groups (pork is consumed massively in China). In April last year, we heard of the approach of Kang Fung Group and a possible offer of 1,000 million euros for a company that in 2017 billed 678 million euros and obtained a net profit of 38.5 million. However, its CEO and main shareholder, Clemente Loriente, insists that the company is not for sale.

Source: https://www.elconfidencial.com/