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Martinavarro's profits increase and it distributes 61 million in dividends

Agrihold, the patrimonial company of the Martinavarro family, achieved a profit of 62.9 million euro during the 2020 fiscal year and it decided to distribute a dividend of 61.2 million among its partners. Joaquin Ballester Agut, the president of Agrihold, is the visible leader of this agricultural empire, which he shares with his brother-in-law, Jose Luis Martinavarro Dealbert, and a part of his children and nephews. They control the boards of directors of the Marmoagro, Revacitrus, and Zarzafruit companies, which belong to this corporation.

As stated in Agrihold's report and management report, the Martinavarro company carried out a major shareholding restructuring upon exiting the capital of Cítrico Global.

Grupo Martinavarro joined Cítrico Global in 2017. Then they were joined by the Miura fund and the Andalusian firm Río Tinto. Perales & Ferrer from Alicante, which specializes in lemons, is also part of this corporation. The new company is owned by the aforementioned investment fund and the families that owned each of the companies, proportionally. In this case, the founding families, Martinavarro and Ballester, maintained control of 22.4% of the citrus group through the Agrihold company with headquarters in Almassora.

 

Source: levante-emv.com


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