Llusar acquires Naranjas Torres, creates largest Spanish premium citrus group
Llusar and Naranjas Torres have merged to create the largest Spanish premium citrus group with a combined annual turnover of more than €130 million.
The joining of companies comes with a volume of around 100,000 metric tons (MT) of fruit marketed per year. Production area and facilities total over 45,000 square meters divided between Almenara and Chilches, in the province of Castellón, Valencian Community.
Although both companies will continue to operate independently, this merger is focused on its main objectives of logistics and production, according to Valencia Plaza.
Llusar is a company primarily concentrated on the export of premium mandarins as 85% of the company's income comes from its export activity.
On the other hand, Naranjas Torres is focused on the commercialization of brand-name premium oranges and mandarins in Spain.
The merger will allow the companies to face the challenges seen in the sector and be able to invest in the cultivation of varieties, production technology and innovation for differentiating the product internationally.
This aquisition is part of the national and international consolidation plan of Llusar and of both organic and inorganic growth that the company began in early 2021 after the incorporation of MCH Private Equity and SanLucar Fruit to its shareholders.