The Brazilian company Agrícola Famosa, the world's largest melon and watermelon producer and exporter, and the Spanish group Citri & Co, the largest European producer and distributor of citrus and stone fruit, have partnered to become a world benchmark in the fresh fruit market, both companies announced in a joint press release.
"This alliance will allow both companies to strengthen their strategic positions, improve their value propositions, and provide fresh high-quality fruit to their current and future customers in strategic product categories, always adhering to the highest sustainability standards and promoting the development of the local communities where they operate,” they stated.
Citrus fruits, melons, and watermelons, together, account for more than 30% of the European market's total fruit consumption. Citrus fruits are arguably the number one choice during the European winter, while melons and watermelons are the top categories in summer. "Spain and Brazil are the leading producers of these fruits during their own harvest windows, which complement each other and present a natural advantage to serve the European markets."
Citri & Co and Agricola Famosa will create a global platform, where they will be the leading supplier of citrus fruits, stone fruits, melons, and watermelons for Europe, combining their solid reach in the market, their operational capabilities, and their long-lasting relationships with the main retailers, they stated. "Both groups will maintain their existing operations and brands under the leadership of their current management teams while exploring synergies and forms of collaboration that will benefit their customers, employees, and the communities in which they operate."
“I want to welcome Agricola Famosa to join the Citri & Co family. Agricola Famosa fits very well into our strategy, as it is a vertically integrated and specialized company that will provide high-quality fresh fruit to our clients in the most relevant categories. In addition, both companies have a strong family tradition and share the same commercial values, vision, and commitment to the development of their respective communities,” stated Carlos Blanc, the CEO of Citri & Co.
“This alliance represents a fundamental milestone in the history of Agricola Famosa and reinforces the company's strategic position. We look forward to working together, promoting synergies and accelerating our growth plans,” stated Carlo Porro, CEO and founder of Agricola Famosa.
Both companies confirmed that the transaction will be completed in March and that it has the full support of the management teams and founding families of Citri & Co and Agricola Famosa, as well as of Miura Private Equity, the Spanish fund manager that promoted this project.