Unifrutti Group completes acquisition of fruit producer Verfrut

CHILE/PERU – Unifrutti Group, a key player in the global fresh fruit market, has completed its acquisition of Sociedad Exportadora Verfrut S.A. (“Verfrut”), a major fruit producer and exporter in Chile and Peru.

The acquisition, finalized on August 30, 2024, strengthens Unifrutti’s position as a leading supplier of grapes, cherries, apples, and blueberries.

Verfrut, established in 1996, operates over 7,500 hectares of farmland across Chile and Peru. The company’s extensive operations include fully integrated farming and processing facilities that produce a range of fruits, including grapes, cherries, apples, and blueberries.

Verfrut’s distribution network spans from South America to the United States and China, solidifying its reputation in the fresh produce industry.

“Acquiring Verfrut marks a strategic milestone for Unifrutti,” said Mohamed Elsarky, Unifrutti’s CEO, when the acquisition plans were first announced in January 2024.

“This move propels our growth and reinforces our commitment to excellence and innovation. It not only enhances our current operations but also sets the stage for future expansion.”

The acquisition of Verfrut is part of Unifrutti’s broader strategy to consolidate its fruit production platform in Latin America.

Earlier in 2024, the company integrated AvoAmerica Peru, known for avocados, and Bomarea, a premium blueberry producer.

These acquisitions complement Unifrutti’s growing portfolio and underline its commitment to becoming a sustainably driven, multi-fruit global company.

Verfrut’s addition to Unifrutti’s portfolio is expected to enhance the company’s offerings significantly. The company’s operations in Chile and Peru align well with Unifrutti’s existing ventures in these regions, providing opportunities for growth and increased market share.

The company plans to retain Verfrut’s management team and continue production operations, ensuring a smooth transition and continuity in business practices.

The global producer’s strategic acquisitions in Latin America coincide with a positive outlook for the region’s fruit production, particularly in Chile.

For instance, Chile’s cherry production is set to increase by 6.8% in the 2024/25 marketing year, reaching 500,000 metric tons.

This growth reflects the profitability and strong demand for cherries, particularly in China. The expansion of cherry orchards, which are expected to cover 67,000 hectares, underscores the importance of strategic acquisitions like Verfrut in capitalizing on this booming market.

The transaction amount for Verfrut’s acquisition remains undisclosed, but the deal underscores Unifrutti’s strategic focus on expanding its global footprint.