January 25, 2024

By Lynda Kiernan-Stone, Global AgInvesting Media

Global fresh fruit leader Unifrutti has taken a major step in expanding its integrated and sustainable global multi-fruit platform by adding strong table grape and cherry operations through an agreement to acquire Verfrut, a prominent grower and exporter of fresh produce with a presence in Chile and Peru. 

Founded in 1948 by Guido de Nadai, Unifrutti’s vertically integrated business spans the entire fresh fruit value chain. With more than 14,000 hectares of land in Chile, Italy, the Philippines, and South Africa, the company is involved in production, marketing, and distribution on a global scale thanks to its direct ownership of farmland located in the different climate zones of the world. 

The company currently employs more than 11,000 people at its headquarters and has operating locations in Japan, Chile, South Africa, the Philippines, Italy, Spain, Uruguay, Turkey, the Middle East, China, and India, distributing approximately 500,000 tons of fresh fruit to more than 50 countries.

Backers of Unifrutti include The Carlyle Group, which invested an incremental €35 million (US$41.4 million) in the business in 2020, and Abu Dhabi’s largest holding company ADQ, which acquired a significant stake in the group in April 2022.

“We believe our long-term strategic investment will help accelerate Unifrutti’s next phase of growth and build on its strong position as a leader in the global fresh produce sector,” said Gil Adotevi, CEO, food and agriculture, ADQ at the time. 

With the addition of Verfrut, Unifrutti becomes a major fruit company in Chile, one of the largest production centers of grapes and cherries in the world, and a leading apple producer in the Southern Hemisphere. It also extends the company’s reach in Peru – a hub country in the fresh produce industry. 

Founded in 1996, Verfrut operates more than 7,500 hectares of fully integrated farming and processing facilities growing a wide range of crops including grapes, cherries, apples, and blueberries. It is renowned as the largest grape exporter in Peru with a strong commercial and distribution network in the U.S., the EU, South America, and China. 

“We are making an excellent decision with this transaction,” said Romano Vercellino, founder and president, Verfrut. “Verfrut is our life. After many years of hard work together with our great team, we are confident that Unifrutti will maintain our values that have guided us since the establishment of Verfrut. We look forward to the next stage of our successful journey.”

Unifrutti stated that the move to bring Verfrut into the fold aligns with its objective to meet increasing demand for premium, high-quality fruits, and reflects its commitment to sustainable growth and its leadership in the compelling global fruit space.

“Our acquisition of Verfrut is a strategic milestone, propelling Unifrutti’s growth and reinforcing our commitment to excellence and innovation,” said Mohamed Elsarky, CEO, Unifrutti. 

“This expansion not only enhances our current operations but also paves the way for future growth, as we aim to become the preeminent and most sustainably driven global multi-fruit company, setting new standards in the industry. This transaction also resonates deeply with our shared family-owned heritage, and we are humbled and privileged to be entrusted with Verfrut’s 30-year legacy, collaboratively forging a regional champion in Chile and Peru.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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