Unifrutti adds to Latam scope with double acquisition

中国水果门户 · 公众号 · · 2024-03-12 19:17

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Unifrutti Group announced it has reached an agreement to purchase 100% of Bomarea and the Peruvian operations of AvoAmerica, as the group aims to expand its presence in Latin America.

The acquisition is set to strategically position Unifrutti to meet demand for blueberries and avocados from a global customer base and increase its access to important markets including the U.S. and China.

In January, the firm announced the acquisition of Chilean company Verfrut. The purchase helped the group to become one of the largest production centers for grapes and cherries globally.

"Latin America is probably the most important region in the world for fruit exports, particularly to the United States, Europe and China, so it made a lot of sense for our M&A efforts to start in Chile and Peru," Unifrutti's director of strategy and M&A, Karl Stehelin, told Reuters.

Stehelin added that, while Peru and Chile were a good starting point, the group is now looking a other countries such as Mexico were in their sights.

Bomarea and AvoAmerica were previously owned by agribusiness investment firm Solum Partners and fresh fruit and vegetables company Alpine Fresh.

“With blueberries and avocados being among the most desired and rapidly expanding superfruits, the addition of these companies to our portfolio perfectly aligns with our pledge to grow and supply superior-quality fruits to our customers worldwide,” said Unifrutti Group CEO Mohamed Elsarky.

The executive indicated that these three acquisitions mark the initial phase of “ambitious plans to become a leading sustainable multi-fruit company globally.”

Unifrutti Group is part of ADQ, an Abu Dhabi-based investment and holding company with a broad portfolio of major enterprises spanning key sectors of the UAE’s diversified economy.