Miura Partners, the Spanish fund, has carried out a new operation that reinforces its position as a global supplier of Citri&Co, its subsidiary specializing in the citrus business. In this case, as part of its buy & build strategy, it has acquired the French company Arco Fruit, which specializes in the sale and distribution of organic citrus and stone fruit.
Arco Fruits, based in Perpignan, is present in the country's main distribution chains. In this new stage, the French company will continue to be managed by Jean Contreras and his management team and will promote the development of organic specialties in the French market.
In 2021 the firm acquired the Brazilian Agricola Famosa company and before that it integrated Frutas Esther, expanding its product portfolio with stone fruit. KPMG was the financial advisor for the operation, and Carrillo (Spain), Seido (France), and Garrigues (legal and tax due diligence) provided the group with legal advice.
To date, RioTinto, a company integrated into the Citri&Co group and a specialist in organic citrus, and Arco Fruits were already strategic partners.
Citri&Co is one of the largest producers and marketers of citrus, stone fruit, melon, and watermelon in Europe. The group was created in 2017 and is made up of the Martinavarro, RioTinto, Perales&Ferrer, Frutas Esther, Sunpack companies, and the Brazilian company Agricola Famosa. Currently, it markets more than 700,000 tons of fruit and has 31 packing plants with an annual turnover of close to 500 million euro.
Source: eleconomista.es
