Orsero takes over 50% of Agricola Azzurra
The group is strengthened in the distribution of fruit and vegetables from the Italian supply chain
Orsero, a company listed on the Star and active in the distribution of fresh fruit and vegetables, has signed an agreement for the purchase of 50% of the share capital of the Agricola Azzurra company, which specializes in the wholesale distribution of fruit and vegetables of Italian origin. The group aims to become a leader in the marketing of products of the Italian agricultural chain on the national territory.
The preliminary agreement signed with the Tuscan company Framafruit provides for the acquisition of 50% of the share capital of Agricola Azzurra and will be executed by the first days of October 2021. The remaining 50% of the capital will remain in the hands of the current shareholder. The consideration for the acquisition is 7.3 million, but a possible adjustment up to a maximum of 3.2 million is expected by the end of 2022.
In 2021, Azzurra expects to achieve revenues of approximately 24 million, EBITDA of approximately 2.6 million with a forecast trend in strong growth. At 30 September 2021, the NFP is expected to be positive (net cash) for 1.4 million. By virtue of the sharing of Orsero's commercial relations, in the medium term Azzurra is expected to generate revenues of approximately 60 million with a target Adjusted Ebitda of approximately 8/10% of the revenues developed.
EFA News - European Food Agency