- Serpis, a brand of Cándido Miró, is a market leader in Spain and Mexico and operates in over 30 countries.
- The Company achieved €50 million in revenue in 2022.
- Serpis will strengthen its presence in key markets, expand globally, and drive product innovation.
Miura Partners has invested in Cándido Miró, a top-quality producer and distributor of table olives, known for its brand Serpis. The Company holds a dominant market position in Spain, Mexico, and other Latin American countries, and has a presence in over 30 countries globally.
Cándido Miró, a family-owned company founded in 1926 in Alcoy (Alicante), Spain, was a pioneer in industrializing and popularizing stuffed olives both nationally and internationally. Over nearly a century, the company has specialized in producing and marketing stuffed, green and black olives under both its own brand and private labels.
With state-of-the-art facilities spanning 18,000 square meters, Cándido Miró ensures exceptional production capabilities, processing over 10,000 tons of olives annually.
Serpis has achieved sustained growth over the past 20 years due to its diverse product portfolio, global presence, strong brand recognition, and adaptability to meet retailers’ needs. In 2022, the company recorded revenues of €50 million, experiencing a growth rate of 30%.
The partnership between Miura and Serpis aims to invigorate the table olive category by enhancing brand awareness and introducing value-added products in key markets. Additionally, the company will explore strategic add-ons to strengthen Serpis’ product range, expand its industrial capabilities, and enter new markets and client segments.
In addition to brand recognition, Serpis is committed to becoming a sustainability benchmark within the industry. As a portfolio company of Miura, Serpis will implement its ESG Blueprint, focusing on reducing carbon footprint, improving energy efficiency, and adopting responsible supply chain practices.
Estrella Cantó, Managing Director and member of the fourth-generation family, along with Juan Gil, CEO, will continue to lead the company. Both Mr. Gil and the Cantó family have reinvested in the project.
Fernando Clúa, Partner at Miura Partners:
“Our investment in Serpis represents a long-term partnership to establish Serpis as a leading brand in the healthy snacks and appetizers segment, both domestically and internationally. We remain steadfastly committed to Serpis’ founding values: a nearly century-old family-owned company dedicated to delivering quality and innovative products with significant global reach.”
Juan Gil, CEO of Serpis:
“We are embarking on a new chapter together with Miura, whose expertise in expansion projects, international growth, and sustainable development will be instrumental in achieving our goals. Furthermore, their extensive knowledge in the food and agribusiness sector will be a great asset to us.”
PwC Corporate Finance and Vinca Capital provided advisory services for the transaction, Garrigues and Gómez-Acebo & Pombo provided legal counsel, while BIP Consulting and Kiriom Smart Growth provided commercial advisory services.
Cándido Miró is a family-owned company founded in 1926, headquartered and operating in Alcoy, specializing in the production and distribution of high-quality olives. The company operates under the Serpis brand and was instrumental in popularizing the anchovy-stuffed olive both domestically and internationally. With 100 employees and a cutting-edge production facility spanning 18,000 square meters, Serpis is a market leader in Spain, Mexico, and other Latin American countries, with a presence in over 30 countries.
About Miura Partners
Miura Partners is a leading purpose-driven Private Equity firm with offices in Barcelona and Madrid. The firm specializes in investing in small and medium-sized family-owned and entrepreneurial companies. Miura provides attractive growth and innovation plans with a clear focus on sustainability, under its three investment strategies: Buy-outs, Impact, and Agribusiness.
Since 2008, Miura has invested in more than 50 companies, for a total value in excess of €2.0 billion. Currently, the firm has €1.2 billion Assets under Management.