- The financing committed to a consortium of investors, led by INVEREADY, will be provided in the form of capital, hybrid capital and debt, and will serve to recapitalize IFFE FUTURA, allowing the development of the Omega 3 business.
- The Omega 3 plant, which the Group is building, will start operating in 2023 with a potential production capacity of more than 10,000 tons per year.
- The NATAC Group enters the capital of IFFE BIOTECH with a 20% stake, as an industrial partner.
OLEIROS, Spain–(BUSINESS WIRE)–IFFE FUTURA (www.iffefutura.es), an industrial and services group based in Galicia (Spain) and listed on BME GROWTH, has signed a financing commitment of 18 million euros with several investors led by INVEREADY. The objective of this financing is to complete the Omega 3 production facilities, based in As Somozas (Galicia), and start marketing Omega 3 B2B from 2023 to functional food companies for nutritional supplements, pharmaceutical products, cosmetics and animal food, among others. The new facilities will have a capacity of more than 10,000 tons per year of Omega 3 of the highest quality and better organoleptic behaviour.
The financing partners have been led by INVEREADY, which invests 9 million euros through hybrid funds, and a group of investors who are experts in investing in BME GROWTH, who invest 4 million euros in their own funds. In addition, IFFE FUTURA has obtained financing from Banco Sabadell, for an amount of up to 4 million euros, and from Xunta de Galicia (through XesGalicia), for an amount of up to 1.25 million euros.
The operation is completed with the entry of NATAC Group as a minority shareholder of IFFE BIOTECH. NATAC Group, a leading company in the natural ingredients sector, will support IFFE BIOTECH in the completion of the Omega 3 production facilities and will be a partner in the distribution of IFFE BIOTECH’s final production. NATAC Group will also contribute patents related to Omega 3 to IFFE BIOTECH.
IFFE BIOTECH will have a new board of directors made up of IFFE FUTURA, NATAC Group and Inveready.
David Carro, CEO of the Group, declared: “The support of INVEREADY and its co-investors, as financial leaders of the operation; of XESGALICIA, showing the support of the Galician regional government; and the municipality of As Somozas, added to the financial loan obtained from Banco Sabadell, ensure the success of our plan strategic and sustained growth of the Company for several years. In addition, this project enhances the value of the primary sector industry, such as fishing, and will bring about the generation of employment in the area.”
IFFE FUTURA, SA