The Catalan family business seeks (the best) succession

Source Summary

The food company Pastas Gallo, founded in Rubí in 1946, is a paradigmatic example of a complicated family succession. With a widely recognized brand, innovation as its hallmark, and consolidated results, the disagreements among the five children of the founder, José Espona, led the heirs to divest their majority stake in 2019 and sell it to the Madrid-based venture capital fund Proa Capital . While three of the five brothers later returned to the group – albeit with a lower participation than initially – the company lost part of its essence. Two years after the operation, Pastas Gallo moved the production of dry pasta from Granollers to Cordoba, and during the last two available financial years – with the asterisk of having faced investments of over 50 million euros – it has registered losses exceeding six million euros.