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Transfer of orange-related activities to Fontestad Citrus

Spain: Fontestad creates real estate subsidiary not involved in citrus fruits

The board of directors of Fontestad S.A, a citrus business group controlled by the Fontestad family and headquartered in Museros, has decided to restructure its companies by founding Fontestad Citrus S.L. This will take charge of all orange-related activities, including the sale/purchase of agricultural products, as well as exports and imports, from which it obtained 124 million Euro in turnover in the 2017/2018 fiscal year, with a profit of 3.2 million Euro.

The citrus group chaired by Vicente Fontestad is expanding its corporate objectives to include the "non-financial lease of real estate, the participation in other companies and the management of those participations," says the company's management report. The business head of Fontestad is renting two industrial warehouses in Museros and the Pobla de Farnals for Fontestad Citrus, where this new firm will carry out its citrus activities. That will allow Fontestad S.A. to generate an income of 8.3 million Euro over the next five years.

It maintains its participation in Zumos Valencianos del Mediterráneo (Zuvamesa), a factory located in Parc Sagunt and with shareholders from other companies in the sector. Furthermore, it owns the subsidiary Fontestad France (in Perpignan), as well as the new varieties research company Source Citrus Genesis, based in Cárcer. It also has shares in Citrus Wholesalers of Madrid, Balcó de Llevant and Villa Res, as well as in Pismo and Carmel (real estate).


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