US – Frutura, a California-based global fruit sales and marketing company has acquired both Giddings Fruit and Sun Belle in a deal dabbed ‘the most significant acquisitions that Frutura has made to date.’
Both companies, according to Frutura, bring an established, year-round berry business to Frutura.
Giddings Fruit, based in Santiago, Chile, is a year-round supplier of organic and conventional cherries and berries, with packing operations in Mexico and South America.
Likewise, Chicago-based Sun Belle is a year-round marketer of conventional and organic berries sold under the Sun Belle and Green Belle Brands and boasts well-developed U.S. distribution and infrastructure that includes five warehouses.
In the months ahead, Frutura anticipates a smooth integration of the three companies, as Sun Belle and Giddings have fostetred a close, decades-long relationship.
Previously, the two berry companies have worked together on distribution, marketing and logistics, with Sun Belle serving as the exclusive sales agent for Giddings’ berries grown in Mexico.
After the acquisition, Sun Belle Founder Janice Honigberg will continue as CEO and Giddings Fruit’s Julio Giddings will transition to chair emeritus.
Both leaders are slated to join Frutura’s board of directors, according to a news release.
“It’s exciting for us, as you can imagine, to acquire two unique, very distinct businesses that have been operating and working together for quite a long time,” said Frutura’s CEO David Krause
According to him the potential is amazing with these two well-run companies as they will be able to unlock value that they both recognize, but weren’t able to do, separately.
“Other Frutura divisions are growing berries as well, so we can flow that product and help supply all our customers and markets,” he explained.
In his view the acquisition is a double award as they will not only be getting into the berry space, but they will also be achieving the size, scale and depth of crops that they wanted to all along.
According to a report by Mordor Intelligence, the global fresh berries market is expected to grow at a CAGR of 3.70% during the forecast period (2023-2028) and is estimated to reach USD 29.70 billion by 2028
The report also states that North America is the largest market for fresh berries, and Asia-Pacific is anticipated to be the fastest-growing market across the world during the forecast period.
“The major factors driving the blueberry market in the United States include increasing preference toward superfruits and foods containing antioxidants,” reveals a University of Florida report.
“Other factors include growth in the retail market for fresh berries, increased use of blueberries in the beverage and confectionery sectors, and enhanced adoption in the beauty and personal care segment.”
For all the latest fresh produce industry news updates from Africa, the Middle East, and the World, subscribe to our NEWSLETTER, follow us on Twitter and LinkedIn, like us on Facebook, and subscribe to our YouTube channel.