UK's Cinven buys majority stake in Spanish berry supplier Planasa

UK-based private equity firm Cinven has agreed to buy a majority stake in Spanish Planasa, a global berry supplier, for 450 million euros (397 million pounds) in an effort to capitalize on growth in health and wellness trends.

Cinven said that it is fully aligned with the highly capable and experienced team at Planasa on its vision for the group and focused on creating a strong platform for further international growth.

Planasa said that it expects to further internationalize and professionalize its operations, as well as enabling it to expand into new areas of business through continued investment in research and development.

On October 7, 2006, Cinven bought UK’s Pizza Express in a cash-and-debt deal worth about 900 million pounds.