MCH joins forces with SanLucar Fruit to buy the Llusar citrus company

The MCH fund has partnered with the premium fruit and vegetable brand SanLucar to acquire Llusar, a Castellon-based company with more than 80 years of history dedicated to the production and marketing of oranges and mandarins throughout the world.

According to a press release from the parties involved in the operation, the goal of the operation is to promote the growth of the group's organic and conventional segments to enhance its geographical diversification. The Llusar brothers, who founded the company, will maintain a stake in the firm and its management.

Llusar's main asset is its strong export activity. 83% of the 63 million euro in sales that the company achieved last year came from its exports, especially to Europe, where France is its most important destination. The company had previously strengthened its international role with an alliance with SanLucar Fruit, which allowed it to focus on the German and Austrian markets. Now they are taking another step forward by joining the premium fruit and vegetable brand, which is one of their largest clients.

MCH and SanLucar received counsel from Norgestion (for the M&A), Garrigues (for legal, tax, and labor matters), Roland Berger (which prepared the commercial due diligence) and Deloitte, which was in charge of the financial due diligence and ISG issues. The selling side worked with Speed Out on the M&A and Anaford on legal issues.

 

Source:  cincodias.elpais.com 


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