Natural Fruit squeezes Frugarva lemons
A citrus fruit center is born in Spain, with a turnover of over 200 million euros
Spanish holding company Gpf Capital has acquired the Frugarva lemon company through its citrus company, The Natural Fruit Company. Following the transaction, Frugarva will be incorporated into the citrus fruit holding, creating a Group with a turnover of over 200 million euros.
Founded in Murcia in 1965, the company deals with the production, processing and distribution of lemons and pomegranates. With its 51,000 square meters of factories, Frugarva serves more than 70,000 tons of fruit per year to national and international customers, including the large-scale retail giant Mercadona. The company achieves a turnover of over 50 million euros per year, with exports accounting for over 90% of this figure. Gpf Capital says the merger will create a group that will be the main exporter of lemons in Europe. Frugarva's founding and executive family will remain with the company and manage a stake in The Natural Fruit Company. Together, Gpf Capital and the management teams of The Natural Fruit Company and Frugarva, the Group will focus on expanding its products and services offered to clients in Europe, as well as international expansion.
A spokesperson for the Spanish company said: "We are thrilled to take this step and have the opportunity to participate in an exciting and growing project like The Natural Fruit Company. Together we will be one of the undisputed leaders in the European citrus sector with ability unique manufacturing, distribution and service. This commitment will help us continue to offer a high quality and tailored service to each of our customers throughout the year".
The transaction takes place 11 months after Gpf Capital acquired Fruxeresa and Frutas Naturales by merging them The Natural Fruit Company. Which recently opened a logistics center in France and has invested more than 25 million euros in a new factory in Valencia.
EFA News - European Food Agency