Vall Companys, Spain’s largest food company by turnover, is set to boost its Iberian ham business through a planned investment in Julián Martín, a Salamanca-based producer currently undergoing restructuring. The move forms part of Vall Companys’ wider strategy to expand its cured meat portfolio amid shifting market dynamics and global uncertainties.
Julián Martín filed for pre-insolvency proceedings in July, and its viability plan now awaits court approval. According to sources close to the process, the restructuring plan aims to increase the company’s annual sales from €39 million to €49 million over five years, while raising its Ebitda margin from 3% to 8%. This improvement is expected to stabilise operations and create a sustainable return for new investors.
The plan includes a 20% write-down of its €7.8 million debt for commercial creditors, with €6.2 million to be repaid over five years. Additionally, €6.3 million in capitalisation would come from strategic suppliers, some of whom may take equity stakes. Neither Vall Companys nor Julián Martín has officially confirmed or denied the involvement, though sources indicate the Catalan firm is a key part of the proposed rescue.
Vall Companys reported €4.163 billion in sales for 2024, marking a 0.3% increase and reinforcing its position as Spain’s top food company, ahead of Coca-Cola’s bottler and Ebro Foods. The company recorded a net profit of €279 million last year, achieving a net margin of 6.7%, nearly one percentage point higher than in 2023.
Reinvestment and International Growth
The company invested €118 million in 2024 to upgrade facilities, supporting its long-term competitiveness. Between 2021 and 2024, Vall Companys reinvested €420 million across its operations. Its integrated production model spans feed manufacturing, livestock farming, and meat processing, underpinning its dominance in pork, poultry, beef, flour, and processed foods.
The strategy of continuous reinvestment strengthens our position in both national and international markets.
Headquartered in Bellver d’Ossó (Lleida), the family-founded business now employs over 17,000 people, with much of its industrial activity based in rural Spain. It has expanded its international footprint in recent years, including establishing a presence in Chile and Argentina via its Brazilian subsidiary Master Agroindustrial and local partner Grupo Pacuca.
Challenges from African Swine Fever
Despite strong performance, Vall Companys faced setbacks due to the outbreak of African Swine Fever (ASF) in Bellaterra, which led to complete export bans in countries like Japan and Mexico, and partial restrictions in China and the Philippines. The outbreak contributed to a drop in domestic pork prices and prompted the company to implement a financial contingency plan for 2026.
This includes setting aside €61 million, cutting dividends from €72 million to €36 million, and reducing planned investments. While 2025 closed with a 20.3% increase in staff, to 17,336 employees, the company anticipates a difficult year ahead amid ongoing market instability.
Reported by viaempresa.cat, eleconomista.es, VIA Empresa.
