Hortifrut, a global business platform in breeding, growing, and marketing fresh and frozen berries, has reached an agreement to acquire 100% of Atlantic Blue. Atlantic Blue is a company working in variety development, growing, and sales of berries in Europe and Northern Africa and is based in Huelva, Spain. Hortifrut has maintained a partnership with the company since 2000.
This acquisition allows Hortifrut to increase its growing area by about 20%, adding roughly 850 hectares across the three countries where Atlantic Blue operates, including 400 hectares in Spain, 248 hectares in Morocco and 200 hectares in Peru.
“This is a significant step to boost our growth in Europe, the second-largest market in the world for fresh berries," said Juan Ignacio Allende.
The purchase of the hectares in Morocco allows the company to complete the supply of its own blueberries in Europe year-round. Together with the successful production of raspberries in this country and Portugal, the firm follows its path towards supplying the full berry category all year round for its European customers.
In addition to Atlantic Blue’s farms and facilities, the transaction includes the SAT processing plant, 100% of Euroberry's commercial platform with annual sales of approximately €200 million, and Atlantic Blue’s variety and breeding development program of blueberries and low-chill cherries worldwide. This opens substantial new growth and investment opportunities for the company in Europe and provides a solid foundation to meet growing demand from European consumers for berries.
“This is a significant step to boost our growth in Europe, the second-largest market in the world for fresh berries. Without a doubt, this is one of the most relevant and strategic acquisitions in Hortifrut’s history and allows us to strengthen our position within the global berry industry,” said Hortifrut CEO Juan Ignacio Allende.
“The transaction provides us with the leverage to strengthen and build our variety development and breeding capabilities, enabling us to accelerate growth and deliver a greater product range to our customers around the world,” says Allende.
For more information:
Constanza Morales
cmorales@simplicity.cl
Cell: +56 9 92193550
Carolina Pizarro
cpizarro@simplicity.cl
Cell: +56 9 66088238