Key Takeaways
- Sector: Agriculture Agribusiness & AgTech.
- Geography: Spain.
Analysis
Nazca Capital has taken a majority stake in Valencia-based SanSan, marking a strategic move into agri-tech solutions for berry cultivation. The operation, executed through the Nazca Small Cap II Fund, aims to accelerate SanSan’s international roll‑out and consolidate its position as a specialist platform for sustainable growing systems.
Founded in 1994, SanSan has spent three decades developing hydroponic pots, pheromone‑based traps and tailored growing systems for blueberries and other berries. The company closed 2024 with sales of €16 million, sustained by repeated double‑digit growth, and has established distribution and implementation footprints across Peru, Mexico, Morocco and Spain.
José Sancho, the company’s founder and CEO, will remain at the helm and retain a material shareholding. Management continuity is central to the plan: Nazca’s capital and sector experience will be paired with SanSan’s product engineering to scale sales, broaden the crop mix (notably strawberries and raspberries) and expand service capabilities such as integrated pest management and lifecycle support for growers.
The acquisition underlines two broader trends in fresh produce supply chains. First, growers are adopting protected and soilless systems to improve yields and resilience against climate volatility; industry estimates put the global hydroponics market growth in the mid‑teens CAGR over the next five years as retailers demand higher quality and traceability. Second, demand for non‑chemical pest control is rising, and SanSan’s pheromone traps and monitoring tools position it well within an increasingly regulated and sustainability‑minded market.
Nazca’s stated strategy is to build specialised platforms in high‑growth Spanish SMEs and scale them internationally by combining organic investment with targeted bolt‑on acquisitions. This is the fifth investment from the Nazca Small Cap II Fund, which already holds a diversified portfolio across sustainability, industrial and technology‑enabled services.
From a financial perspective, the deal is structured to fund commercial expansion — including hiring for international sales and local technical support — and to accelerate R&D in water‑ and nutrient‑efficient systems. Nazca will also evaluate acquisition opportunities that can expand SanSan’s product range or add distribution channels in key producing regions.
Sector advisers and banks are supporting the transaction: Sabadell will provide growth financing, while legal and financial advisors worked on both sides of the deal. Nazca’s Celia Pérez‑Beato commented that SanSan “fits perfectly with our Small Cap strategy: a pioneering family business with a global niche, a differentiated product set and a management team committed to international growth and sustainability.”