The Calvo family, which controls 77,8% of Group Calvo, the Spanish leading canning company, has asked the investment company Nmas 1 to search for financial partners.
The Calvo family has decided to sell the company due to problems in the line of succession and the current difficult situation the fish canning sectors is going through with the strong competition from both the local as well as foreign markets and the overexplotation of the waters resulting.
Other saherholdes of the Group Calvo are the three bank entities Caixanova, Caja Burgos, Caja Castilla-La Mancha.
The company has a total staff of 3000 employees. It has six factories located in
Calvo’ international status was pursuing to ensure raw material supply, reach new markets and reduce costs.
By acquiring the Brazilian plant Gomes de Costa, Group Calvo reaches fifth place within the world ranking.
The Calvo enterprise is valued between EUR 250 and 350 million. It invoices a total of Eur 380 million per year and for the past few months was already subject to rumors within the sector.
The first labor conflicts at Calvo began earlier this year in the group’s canning plant located in Esteiros. Some indications, such as a activity reduction, personnel cutbacks and the retreat of equipment, made employees and management fear the dismantling of the factory.
According to sources representing the workers, these fears have been confirmed now with the announcement that Calvo Group is for sale.