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More Unifrutti fruitmarket acquisitions in Latin America: ADQ-controlled Unifrutti has reached an agreement to acquire Peru’s AvoAmerica Peru from US-based Solum Partners, and Bomarea from Alpine Fresh, according to a press release. The size and value of the transactions have not been disclosed, but the acquisition broadens Unifrutti’s reach into the avocado and blueberry markets, the statement said.
Not the first Latin American acquisitions for Unifrutti this year: Unifrutti Group acquired 100% of Chile-based fruit producer and exporter Verfrut in January.
More coming?The Peru acquisitions are just the “starting point” of Unifrutti’s growth strategy in Latin America, with potential focus on Mexico’s production landscape for berries and avocados, Chief M&A and Strategy Officer Karl Stehelin de Taisne told Reuters. There could possibly be more acquisitions in Mexico and Colombia, de Taisne hinted.
The series of Latin American acquisitions is a plus for food security, Reuters reports, given that the UAE imports 90% of its food. “[Latin America] is probably the world’s most important region for fruit exports, in particular to the US, Europe and China, so it made a lot of sense for our M&A efforts to begin in Chile and Peru,” according to Taisne.
About Unifrutti: Established in Eritrea in 1948, Unifrutti currently has a footprint in 50 countries across four continents, producing and distributing more than 100 fresh fruit products. ADQ acquired a majority equity stake in the company in 2022, as the fund looked to expand its food and agriculture portfolio. Unifrutti is known for its production of apples, grapes, and cherries across Chile, Italy, the Philippines, and South Africa.
