Agri-food sector becomes a “safe haven” with a 15% increase in M&A in the first quarter
Published by: EFEAGRO
May 25, 2026
The mergers and acquisitions (M&A) market in the agri-food sector, considered a “safe haven” in times of uncertainty, is on the rise in 2026 after growing by 15% in the first quarter of the year in Spain compared to the same period in 2025, according to Albia IMAP, a firm specialized in these transactions.
Albia IMAP partner Ricardo Dávila told Efeagro that during the first three months of 2026, a total of 40 transactions were completed in the food industry, the highest level since the third quarter of 2024.
The meat sector leads the way with 9 transactions, followed by fruit and vegetable (5), ready meals (4), bakery and pastry (4), and dairy (3).
“The outlook for the agri-food sector is positive, as it is a safe-haven sector in which Spain is well positioned within Europe,” Dávila noted, adding that financial investors “view this activity favorably” in times of uncertainty, as it offers “greater stability” than other industries.
According to their data, the agri-food sector—currently undergoing a process of consolidation and professionalization—shows that the buyer profile in these M&A transactions is domestic in 65% of cases, while industrial investors, whether national or international, are involved in 72% of deals.
Since 2015, IMAP, which operates in 50 countries, has advised on nearly 210 financial transactions in the food and beverage sector across Europe. These include the acquisition of pork producer Rodríguez by Vall Companys, bakery manufacturer ArtiBack by Lidl, and frozen bakery company Fresystem by Ferrero.
This year, for example, Albia IMAP provided financial advisory services for the acquisition of the family business Hortalizas Gourmet—based in Mozoncillo (Segovia) and specialized in carrot distribution—by a group of entrepreneurs, executives, and investors forming Muro Capital Partners.
Additionally, in the first quarter of 2026, Serunion acquired Cobos Catering; Indar Kartera Kutxabank and other investors acquired distributor Uvesco; meat company Incarlopsa acquired Bricio Embutidos; Vicky Foods acquired Panrico; Vall Companys acquired La Selva; and MCH Private Equity, together with Ares, acquired Europastry.
Among the transactions involving European buyers between January and March this year are the majority acquisition of burger chain Goiko by French firm Capza, the acquisition of Freixenet by German group Henkell, and the acquisition of Avícola Galocha by Dutch company GoodLife Foods.
Family Business Chair
Last October, Albia IMAP, together with the University of Salamanca, launched the Family Business Chair, with the aim of boosting competitiveness and financing for this type of company.
Its director, Julio Pindado, explained that their work focuses on supporting the “professionalization of family businesses” and ensuring continuity in their growth, whether organic (through their own operations) or inorganic (through acquisitions or integrations).
According to Pindado, most Spanish agri-food companies are family-owned, forming a highly fragmented sector with a lack of generational succession.
He cited the Salamanca-based company Mirat as a success story. The company operates in the production and commercialization of fertilizers and other agricultural inputs, as well as in the trading of cereals and seeds, and “remains family-owned but with fully professionalized management.”
“There are other family businesses that are also performing well, but still depend heavily on the family, which in the long term can be a drawback,” Pindado noted. He added that now is “an ideal time for them to reassess their situation and take action.”
“Many can continue professionalizing with the support of our Chair, while others can do so through acquisitions or financing operations. We must work for society as a whole, as a great deal is at stake—not only part of our GDP, but also our food sovereignty,” he concluded.
