Fruit heavyweight Unifrutti Group has struck a deal to buy Italy-based Fondaco Nuovo, a producer of blood oranges.
The financial terms of the transaction were not disclosed.
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In a statement yesterday (23 April), Unifrutti said the purchase would support the company’s strategy to expand its owned production and “strengthen its position in the European citrus market”.
The acquisition more than doubles Unifrutti’s total controlled area in Italy to around 670 hectares.
It builds on the footprint established through the acquisition of a controlling stake in Oranfrizer, another Sicily-based producer of blood oranges, in 2020.
Located in the foothills of Mount Etna, Fondaco Nuovo spans approximately 400 hectares across two farms. It is known for producing premium Tarocco blood oranges.
The Fondaco Nuovo portfolio includes various early and late Tarocco clones, Mandarins, limes, and finger limes.
Unifrutti said the deal “reinforces” its focus on Europe as a core market and its goal of building an “integrated, production-led platform”.
By increasing owned production, the company, which is controlled by Abu Dhabi government-backed investment fund ADQ, is aiming to ensure “greater consistency, quality and reliability” for its customers.
The transaction also “strengthens” Unifrutti’s “dual-hemisphere supply model” to enable year-round availability and builds a “scalable” platform to deepen retail relationships in Europe, the company added, “As one of the largest citrus producers in Europe, Italy is a natural anchor for this programme.”
In December, Unifrutti expanded its presence in Peru with the acquisition of table grape supplier Safco.
In January 2024, it snapped up Verfrut, a Chile-based fruit supplier and exporter, followed by the acquisition of Peruvian peer Bomarea and the local operations of AvoAmerica in March of that year.
Unifrutti manages 16,000 hectares, supplying more than 1,000 customers in over 50 countries.
