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Unifrutti Acquires 3 Fruit Companies in 3 Months

March 15, 2024

Just 10 weeks into 2024, Unifrutti Group, one of the world’s leading players in fruit production, marketing and distribution, has already completed its acquisition of three South American fruit companies: Verfrut, Bomarea and AvoAmerica Peru.

Unifrutti Group, which is majority owned by Abu Dhabi-based sovereign wealth fund ADQ, distributes approximately 500,000 metric tons of fresh fruit globally every year. Middle Eastern countries like the United Arab Emirates and Saudi Arabia are heavily reliant on imports, with up to 90% of their food supply sourced from other countries. This reliance has driven them to prioritize investments in overseas food companies to safeguard their food security.

Speaking to Reuters, Karl Stehelin de Taisne, chief M&A and strategy officer at Unifrutti, explained that Latin America could be the most important region globally for fruit exports, with key overseas markets including the United States, Europe and China, thus making the company’s acquisitions in Chile and Peru strategically sound. He further noted that Peru was the starting point for Unifrutti’s strategic endeavors, with Mexico, Colombia and other countries also on the radar.

January saw the acquisition of Verfrut, a fruit producer and exporter with operations spanning Chile and Peru. Verfrut owns 7,500 hectares of orchards and cultivates various types of fruit, such as grapes, cherries, apples and blueberries. As Peru’s largest grape exporter, Verfrut ships over 15 million cartons of fruit worldwide each year, with its distribution networks reaching the United States, the European Union, South America and China. Following the acquisition, Unifrutti will maintain Verfrut’s global operations to ensure business continuity.

In March, Unifrutti further announced its acquisition of Bomarea and AvoAmerica Peru, two companies renowned for their premium blueberry and avocado production in Peru. With a combined cultivation area of nearly 2,000 hectares, these acquisitions are intended to help Unifrutti meet the growing global demand for blueberries and avocados, while creating opportunities for entry into key markets such as the United States and China. Bomarea and AvoAmerica Peru will maintain their partnerships with current clients and collaborators, including distributors Alpine Fresh and Westfalia Fruit.

Image: Unifrutti

This article was translated from Chinese. Read the original article.


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