Fresh fruit giant Unifrutti Group acquired Peruvian table grape producer Safco from Rio King and other minority shareholders. According to reports from Chilean finance media outlet Diario Financiero, the deal was finalized for $150 million.
“This acquisition marks another step in our journey to build the world’s leading sustainable multi-fruit company with a 52-week integrated supply," said Mohamed Elsarky, Group CEO of Unifrutti Group. "By integrating Safco’s premium varieties and capabilities, we reinforce our ability to serve leading retailers and distributors worldwide.”
The acquisition comprises 100 percent ownership of the company, including its nearly 1,400 acres of grape farms, plus two modern packhouses in Ica, one of Peru’s key grape-growing regions. Safco also comes with a valuable client list of leading US retailers, and a varietal portfolio including premium proprietary cultivars such as Cotton Candy™, Sweet Globe, and Autumn Crisp.
In a LinkedIn post, the company stated that the Safco integration enables the company to serve US customers seamlessly from September through June, sourcing from grape farms in Piura and Ica in Peru, Copiapó in northern Chile, and extending into central Chile.
The company complements this expansive network in the Americas with farms in Italy and South Africa to serve European customers. This, Unifrutti Group says, comprises one of the most extensive global platforms in the table grape category.
The acquisition consolidates Unifrutti Group's position as one of the largest producers and exporters of table grapes in the Southern Hemisphere. As reported by Diario Financiero, the company now owns over 10,600 planted acres, with an annual production of nearly 15 million boxes, equivalent to roughly 120,000 metric tons.
Completion of the acquisition remains subject to customary closing conditions.
*All images courtesy of Unifrutti Group
Related stories
Unifrutti welcomes Verfrut to its global platform completing strategic acquisition in Latin America
Verfrut founder speaks about the sale of Chilean fruit giant
