Chilean fruit producer Hortifrut has entered into a merger agreement to acquire the blueberry business of Peru’s Talsa for $160 million.
The two companies have been partners in Peru for over four years and the move will see Hortifrut – a partner of Naturipe – acquire 1,450 hectares of land as well as facilities and equipment of two packing units.
Talsa will receive a 17.13% stake in the merged company plus a performance-related award.
The agreement, adding to Hortifrut’s existing 350 hectares in Trujillo and 400 hectares in Olmos which it runs with Atlantic Blue, will allow the company to have an annual output of 45,000 tonnes, with the potential to reach 100,000 tonnes.
Hortifrut president Victor Moller said: “This merger provides Hortifrut and the Naturipe Brand a unique position within the industry, ensuring first quality production facilities in the US, Mexico, Brazil, Argentina, Chile, Europe, Asia and now with a stronger position in Peru.
“This agreement positions us as a leading global platform of enormous strength throughout the 52 weeks of the year, making us a very attractive player for retailers, foodservice distributors and ecommerce channels worldwide.”
© FoodBev Media Ltd 2018