H.I.G. Capital has acquired a majority stake in Puerto de Indias, a Spanish gin maker.
Puerto de Indias is best known for its strawberry-infused rosé gin. The company was founded by Jose Antonio and Francisco Rodriguez Fernandez and operates from a distillery in Seville.
Spain is the largest gin market in the EU and the third largest globally. The Spanish gin market is worth $666m (€540.5m) and is expected to grow at an annual rate of 1.5 per cent until 2021, according to Statista.
With H.I.G.’s backing, Puerto de Indias intends to develop new relationships with international distributors and expand in Europe, the US and Latin America.
“We are confident that the combination of their market vision with our resources and strong international presence will be the cornerstone of a new sustainable growth phase for the company, which will allow Puerto de Indias to become a leading global player in the international spirits market,” said H.I.G. principal Leopoldo Reaño.