Ecolumber, S.A. entered into a non-binding memorandum of understanding to acquire Uriarte Iturrate, S.L. from Enrique Uriarte, Eduardo Uriarte and Jordi Blade for €7.5 million.
January 14, 2018
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Ecolumber, S.A. (BDM:ECO) entered into a non-binding memorandum of understanding to acquire Uriarte Iturrate, S.L. from Enrique Uriarte, Eduardo Uriarte and Jordi Blade for €7.5 million on October 9, 2017. The acquisition involves 100% stake in Uriarte Iturrate, S.L. and Frutos Secos De La Vega, S.L. Pursuant to the transaction, Enrique Uriarte, Eduardo Uriarte and Jordi Blade will become shareholders of Ecolumber. The transaction will be funded through a capital increase and bank financing. As of January 15, 2018, the transaction has been notified to Comisión Nacional del Mercado de Valores (CNMV). In 2017, Uriarte Iturrate, S.L. had a turnover of €13.3 million and an EBITDA of €1.3 million. 2iG Capital acted as financial advisor and Olaortua Abogados acted as legal advisor for sellers. Ferreras Abogados acted as legal advisor for Ecolumber. Deloitte acted as accountant in the transaction.
Ecolumber SA is a Spain-based agroforestry company. The Company is an owner and operator of tree plantations, specializing in walnut trees for application in the wood industry (timber) and food industry (nuts). The Company pursues intensive cultivation in its plantations in Spain and Argentina. Through wholly-owned subsidiaries Frutos Secos De La Vega SL and Uriarte Iturrate SL it is also engaged in the selection, processing, packaging and distribution of nuts, including walnuts and almonds.
Ecolumber, S.A. entered into a non-binding memorandum of understanding to acquire Uriarte Iturrate, S.L. from Enrique Uriarte, Eduardo Uriarte and Jordi Blade for €7.5 million.
ECOLUMBER, S.A. 