Grupo Hervaz partners with Magnum Capital to drive Procubitos Europe’s next growth phase

As part of our strategy to consolidate and expand in international markets, Grupo Hervaz has reached a strategic agreement with Magnum Capital for the sale of a majority stake in Procubitos Europe.

This transaction marks a milestone in the history of the Vázquez Gavira family holding company. Following a successful period with GED Capital, Grupo Hervaz retains a minority stake, reaffirming our commitment to the company’s future and our alliance with Magnum Capital to lead the next phase of European scalability.

A unique sector consolidation model in Europe

Since the Vázquez Gavira family founded Procubitos in 1989, the company has grown from a local benchmark to become the undisputed leader in the European ice market. Previous collaboration with GED Capital enabled:

• Strategic merger: The union of Procubitos with Cubers Premium in 2018.
• Inorganic growth: The execution of acquisitions (add-ons) in key markets such as Italy.
• Production capacity: An output exceeding 750,000 tons per year, which doubles the capacity of our closest competitor.

Competitive advantage and international presence

For our partners and investors, Procubitos Europe represents a high-value asset thanks to its unique logistics structure. We are currently the only company in the sector with our own production facilities in Spain, Germany, and Italy, exporting to more than 14 countries, including the United Kingdom, France, and the Benelux countries.

Sustained growth in markets such as Germany, where sales have recently doubled, and a strong presence in both the Retail channel (Mercadona, Carrefour, Lidl, Aldi) and the Horeca channel, position the company as a benchmark for stability and profitability.

Vision for the future: Leadership and added value

The investment from Magnum Capital—one of the leading private equity firms in the Iberian Peninsula—provides the financial backing and expertise needed to take Procubitos to the next level. Under this new structure, Grupo Hervaz will continue to contribute its industrial know-how to develop higher value-added products and ensure the highest food safety standards across the continent.

As Miguel Ángel Vázquez, founder of Procubitos, pointed out: “Our decision is to continue being part of this exciting project and to accompany our new partner Magnum Capital, with the clear aim of continuing to grow and achieving an even clearer and more decisive leadership in the European market.“

For more details on the business vision that made this agreement possible, you can listen to Miguel Ángel Vázquez on the podcast: Listen to “Así empecé” in The Objective