According to San Miguel, the deal will allow it to strengthen its financial structure and reallocate capital in new investment projects aimed at expanding its product offering in its industrial business for the supply of natural ingredients to its strategic clients around the world. It aims to consolidate its global leadership in the industrial lemon business.
The acquisition allows Citri&Co, a leading European vertically integrated fresh fruit company owned by Barcelona-based private equity firm Miura Partners, to strengthen its foothold in the Southern Hemisphere and continue growing internationally in destination markets such as the US, Middle East, and Asia.
“We are very excited to start this new chapter in its successful history by focusing our strategy on the development and growth of the natural ingredients business through new investment projects to continue supplying our customers around the world,” stated Pablo Plá, San Miguel’s CEO.
“We are confident that Citri&Co has all the conditions to continue promoting fresh fruit operations in Peru and South Africa to the next level, as well as making a positive contribution to San Miguel to boost the marketing of its fresh fruit business,” Plá said.
Garrigues team advising Citri&Co was led by partners Ernesto Rey, Lorena Colomer, and senior associate Amadeo Lerma.