Grupo ETSA

What Grupo ETSA does

Grupo ETSA (legal entity: ETSA - INVESTIMENTOS, SGPS, S.A.) is a Portuguese holding company specializing in the collection, processing, and valorization of animal by-products and used cooking oils. Operating since the 1970s under the ETSA name since the 1997 merger of Sebol and ITS, the group is wholly owned by Semapa, a PSI20-listed Portuguese conglomerate with ~€2.1B consolidated turnover, in which ETSA represents the Environment pillar. The group processes approximately 200,000 tonnes of by-products annually through wholly-owned subsidiaries (BIOLOGICAL, SEBOL, ABAPOR, AISIB, I.T.S., ETSA Log, and Tribérica) operating across Portugal (mainland and islands) and Spain, with about 50% of finished products exported internationally.

The core technology stack centers on animal by-product rendering, hydrolysis, purification, co-incineration, and used cooking oil filtration/decantation. ETSA operates the only blood processing line in Portugal (with innovative sterilization capacity) and the pioneer biomass energy facility (IVEB), which converts Category 1 meals into thermal energy and makes the Coruche plant fully energy autonomous. Internal R&D has produced ProHy, a hydrolyzed porcine protein with 93% protein content and 98% digestibility targeting premium petfood and aquaculture markets. The product portfolio spans eight core lines (ProHy, Processed Animal Protein 52, Blood Meal, Tricalcium Phosphate, Used Cooking Oil, Animal Fats, Lard, and Animal Fat Cat. 1 Mix) plus services covering collection logistics, refrigerated transport, and natural casings via the Tribérica sub-brand.

The business model combines collection-service fees (transaction-fee structure for Category 1/2/3 by-product and UCO pickup from slaughterhouses, HORECA, retail, and municipal markets) with sales of processed ingredients into petfood, animal feed, fertilizer, biodiesel, cosmetics, and food industries on a B2B quote-based pricing model. Go-to-market is enterprise field sales supported by a densified collection network and an owned logistics fleet covering 8.5 million km per year. Direct revenue is approximately €80M annually with 450 direct employees; the business carries ISCC, ACCREDIA, and COTEC innovation certifications. Strategic posture is steady industrial growth augmented by selective M&A, exemplified by the 2024 acquisition of Spain's Grupo Barna for marine by-product valorization.

Name

Grupo ETSA

Legal name

ETSA - INVESTIMENTOS, SGPS, S.A.

Website

https://etsa.pt

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

101–250 employees

Short description

Grupo ETSA is a Portuguese holding company that collects, processes, and valorizes animal by-products and used cooking oils into proteins, fats, and fertilizers for the petfood, animal feed, fertilizer, biodiesel, and aquaculture industries across Iberia.

Ownership category

akta.pro rank

Product category

Animal By-Product Rendering Services

NAICS

Rendering and Meat Byproduct Processing (311613), Animal Food Manufacturing (3111), Fats and Oils Refining and Blending (311225)

SIC

Fats & Oils (2070)

akta.pro primary industry

Bio-based Animal Feed Ingredients & Nutrition Co-products (e.g., DDGS, protein meals, yeast) (EUAAAIAI)

akta.pro secondary industries

Manufacturing, Private Label & Co-Manufacturing for Animal Diets (HLAMAHAO), Edible Oils & Fats Trading/Wholesale (AFAIAKAC)

Keywords

• Animal by-product rendering
• Used cooking oil collection
• Circular economy services
• Protein meal production
• Biodiesel feedstock processing

Headquarters

HQ city

Santo Antão Do Tojal

HQ country

Portugal

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Animal By-product Collection and Processing Services: Provides collection services of animal by-products (Categories 1, 2, 3) and used cooking oils. Transforms materials into proteins, fats, meals, and fertilizers sold to various industries including petfood, animal feed, fertilizers, and biodiesel producers.
2. Processed Animal Products Sales: Sells processed products including protein meals, animal fats, blood meal, tricalcium phosphate, and lard to petfood, compound feed, fertilizer, biodiesel, cosmetics, and specialty industries.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Grupo ETSA operates a densified collection network for animal by-products (Categories 1, 2, and 3) and used cooking oils across Portugal (mainland and islands) and Spain, processing approximately 200,000 tonnes annually. Through rendering, hydrolysis, purification, and co-incineration technologies, the company transforms these materials into protein meals, animal fats, blood meal, tricalcium phosphate, hydrolyzed proteins, and biodiesel feedstock for sale to petfood, animal feed, fertilizer, biodiesel, cosmetics, and aquaculture manufacturers.

Product overview

Grupo ETSA operates as a unified platform for animal by-product transformation and used cooking oil recycling, offering both products and integrated services. The portfolio includes eight core product lines (ProHy hydrolyzed protein, Processed Animal Protein 52, Blood Meal, Tricalcium Phosphate, Used Cooking Oil, Animal Fats, Lard, and Animal Fat Cat. 1 Mix) alongside six subsidiary service brands covering collection, processing, and logistics operations (ITS, Sebol, Biological, Abapor, LOG, and AISIB). The company also includes Tribérica for natural casings. Together, these offerings form an integrated circular economy solution spanning from raw material collection to finished ingredient production for petfood, aquaculture, fertilizers, biodiesel, cosmetics, and food industry applications.

Differentiator

Problem solved

Functional benefit

Brands

• ProHy: Hydrolyzed porcine protein with 93% protein content, developed by ETSA's internal R&D team for animal nutrition applications including petfood and aquaculture.

Products and services

• ProHy - Hydrolyzed Porcine Protein 93 A 100% natural hydrolyzed protein ingredient with 93% protein content, high digestibility (98%), and hypoallergenic properties, suitable for inclusion in feeds for any animal species with focus on premium petfood and aquaculture markets.
• Processed Animal Protein 52 Processed animal protein with an average protein content of 52%, high digestibility and palatability, serving as a suitable ingredient for petfood production.
• Blood Meal Blood-derived product with nutrient balance (N, P, K) and high digestible protein content, suitable for incorporation into premium organic fertilizers and highly nutritious animal feed.
• Tricalcium Phosphate Tricalcium phosphate powder derived from porcine bones, containing 14% phosphorus (corresponding to P2O5 value of 32%), ideal for inclusion in fertilizers.
• Used Cooking Oil Max 2 FFA Purified low-acid, high-iodine-based used cooking oils, recommended as raw material for biodiesel production.
• Animal Fat Max 5 FFA Animal fat with acidity level between 3-5 degrees and naturally saturated fatty acid structure, providing energetic and palatable value for animal feed and serving as raw material for biodiesel production.
• Lard Exclusively swine-origin white lard with maximum acidity of 1 degree, rich in saturated and monounsaturated fatty acids, indicated for oleo-chemical industry, biodiesel production, and animal feed.
• Animal Fat Cat. 1 Mix Fat produced under method 1 with high calorific value, suitable for incorporation into biodiesel or for the production of energy.
• Grupo ETSA Collection Services Modern and comprehensive collection network for animal by-products and used cooking oils covering Portugal (mainland and islands) and Spain, supported by aggregation logistic centres.
• ITS - Category 1 and 2 Processing Collection and processing of Category 1 and 2 byproducts from slaughterhouses, breeding farms, kennels, catteries and other centers, with materials converted into fats for energy generation and meals for co-incineration.
• Sebol - Category 3 Processing Collection, transformation and revaluing of Category 3 byproducts from slaughterhouses, cutting plants and butcheries, producing low acidity animal fats and high quality meals.
• Biological - Used Cooking Oil Collection Market leader in collection of Used Cooking Oils (UCOs) from HORECA sector in Portugal mainland and islands, processed through filtration and decantation for biofuel production.
• Abapor - Refrigerated Collection Services Refrigerated collection, transport, sorting and unpacking of Category 3 materials (meat and fish) and other food products for retailers, wholesalers, and municipal markets.
• LOG - Transportation Services Transportation services with company fleet for collection of Category 1, 2 and 3 byproducts and delivery of finished products, with fleet fully licensed by Portuguese veterinarian authorities.
• AISIB - Iberian Pig Collection Collection of Category 2 and 3 materials from large Iberian pig slaughterhouses in Spanish regions of Extremadura and Andaluzia, distributed to internal processing units.
• Tribérica - Natural Casings Conversion of animal origin products into natural casings for the food sector, applying circular economy principles.

Quantifiable outcome

• Processes 200,000 tonnes of animal by-products annually
• +2 more outcomes

Named customers3 records

Segments7 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered major and minor.

• Barna GroupmajorStrategic or Co-development PartnerAcquisition of Spanish Barna Group, reference in Spain for valorization of marine by-products for animal feed. Expands ETSA Group operations promoting circular economy and development of high-value solutions including pet food ingredients, fertilizers and biofuels.
• EFPRA (European Fat Processors and Renderers Association)minorOthersIndustry association membership representing European fat processors and renderers
• Data4All ConsortiumminorStrategic or Co-development PartnerConsortium with INOVA+, DECSIS Iberia, EDIA and Secil (all SEMAPA group companies) for sustainability innovation challenge targeting startups and SMEs with 375,000 euro support in prizes and services for circular economy, energy efficiency and carbon footprint reduction solutions.
• EDIA - Empresa de Desenvolvimento e Infra-estruturas do AlquevaminorGTM or Marketing PartnerPartner in Data4All consortium sustainability challenge program
• SecilminorGTM or Marketing PartnerPartner in Data4All consortium sustainability challenge program; both ETSA and Secil are SEMAPA group companies

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Cargill Animal Nutrition: Global animal nutrition and feed ingredient major that purchases rendered proteins and fats and competes for the same feed and petfood customers. Adjacent incumbent that ETSA serves and competes against for downstream share.

Direct peers

• Baker Commodities: US renderer producing tallow, meat and bone meal, and blood meal for petfood, feed, and biofuel customers. Direct counterpart on protein meal/fat output and renewable feedstock positioning relative to ETSA.
• West Coast Reduction: Western Canadian renderer producing tallow, meat meal, and blood meal for animal feed, petfood, and oleochemical markets. Closely matches ETSA's Category-by-category rendering model and downstream feed/biodiesel positioning.
• Ten Kate Holding: Dutch rendering group processing Category 1/2/3 by-products into proteins, fats, and biodiesel feedstock across the Netherlands and Belgium. Comparable European rendering peer with similar downstream feed and biofuel focus.
• SARIA International: European leader in animal by-product rendering (SARIA Group, Germany) operating protein and fat recovery from Categories 1/2/3 materials, with downstream ingredients for petfood, feed, and biofuel. Directly comparable to ETSA's core rendering and ingredient portfolio.
• Darling Ingredients: Global rendering and specialty ingredients platform (US-listed) producing proteins, fats, and phospholipids for feed, petfood, and renewable diesel. Closely matches ETSA's product mix and end-market exposure across proteins, fats, and biofuels.
• Grupo FASA: Spanish rendering group collecting and processing animal by-products from slaughterhouses and HORECA into proteins, fats, and meals. Most direct Iberian Peninsula peer to ETSA, overlapping on Iberian pig, biodiesel feedstocks, and petfood ingredients.
• BHJ A/S: Nordic rendering and protein group producing protein meals and fats for petfood and feed from European animal by-products. Comparable to ETSA on category processing, ingredient range, and European regulatory compliance.

Regional players

• Irish Proteins: Ireland-based renderer producing proteins, tallow, and blood meal for petfood, feed, and biofuel end-markets. Comparable European rendering peer, though focused on the Irish/UK market rather than Iberia.

Emerging players

• EcoFluid Group: Specialist in used cooking oil collection and processing for biodiesel and renewable diesel feedstocks. Mirrors ETSA's Biological subsidiary in HORECA UCO collection and downstream biofuel offtake.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Grupo ETSA