Brazil's Agricola Famosa to join forces with Spain's Citri & Co
Brazilian company Agrícola Famosa and Spain-based Citri & Co have announced they are joining forces, according to Brazilian website Diario do Nordeste.
The two companies are giants in the global fruit industry, with Agrícola Famosa the world's largest melon and watermelon producer and exporter and Citri & Co the largest European citrus and stone fruit producer and distributor.
"This alliance will allow both companies to strengthen their strategic positions, improve their value propositions, and provide fresh high-quality fruit to their current and future customers in strategic product categories,” the companies said.
Citrus fruits, melons, and watermelons, together, account for more than 30% of the European market's total fruit consumption the companies said.
Spain and Brazil are the leading producers of these fruits during their own harvest windows, which the companies said complement each other and present a natural advantage to serve the European markets.
Citri & Co and Agricola Famosa will create a global platform, where they will be the leading supplier of citrus fruits, stone fruits, melons, and watermelons for Europe, combining their solid reach in the market, their operational capabilities, and their long-lasting relationships with the main retailers, they stated.
"Both groups will maintain their existing operations and brands under the leadership of their current management teams while exploring synergies and forms of collaboration that will benefit their customers, employees, and the communities in which they operate,"
“I want to welcome Agricola Famosa to join the Citri & Co family. Agricola Famosa fits very well into our strategy, as it is a vertically integrated and specialized company that will provide high-quality fresh fruit to our clients in the most relevant categories."
"In addition, both companies have a strong family tradition and share the same commercial values, vision, and commitment to the development of their respective communities,” stated Carlos Blanc, the CEO of Citri & Co.
“This alliance represents a fundamental milestone in the history of Agricola Famosa and reinforces the company's strategic position. We look forward to working together, promoting synergies and accelerating our growth plans,” stated Carlo Porro, CEO and founder of Agricola Famosa.
The transaction is expected to be completed in March.