Informação jurídica inteligente
 Brasil | +55 (11) 31 81 77 29

Spain's Citri&Co buys stake in melon producer Famosa

Document Citado por Related
Vincent

Spain's Citri&Co, Europe's largest citrus producer, has bought a minority stake in Ceará-based Agrícola Famosa, the world's leading producer and exporter of melons and watermelons. With the joint venture, the companies intend to expand sales in several markets, including the United States and Asia, through investments in new plants and acquisitions.

Famosa's CEO Carlos Porro declined to reveal the financial details of the transaction, but says the intention is to build or buy fruit processing units in Brazil and abroad to meet international demand throughout the year.

Europe, which leads global consumption of melon and watermelon, currently imports from Brazil from September to February. The demand is met by Central America from March to mid-June and then by Spanish production. "We want to have the market 12 months a year and are already looking for partners and negotiating acquisitions," Mr. Porro says.

Famosa also wants to broaden its portfolio and better explore newly opened frontiers like the US and China. The company exported 200 containers of fruit to the US last year after entering this market in 2019, and expects to reach up to 500 containers in the harvest that will start in September.

China, meanwhile, received the first shipment of fruit from Famosa in January, and since there were no disruptions, despite the more than 30-day trip, the company is in final talks for new deliveries in the 2020/21 season.

The partnership with Famosa will be an opportunity for Citri&Co to increase market share in Brazil and set foot in the US...

Para continuar a ler

PEÇA SUA AVALIAÇÃO

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT