One of Europe’s largest fresh produce importers, Italian group Orsero, has completed a full takeover of Moncada Frutta, the joint venture it established in 2011 with Sicilian company Gruppo Moncada.
Orsero already owned a 50 per cent stake in the Ispica-based operation, which specialises in the distribution of counter-seasonal exotics and Italian fresh produce across Sicily under the F.lli Orsero brand.
The merger sees the Moncada family retain its managerial responsibilities while also becoming shareholders of the Orsero group, which is listed on the Borsa Italiana MTA stock exchange.
By strengthening their partnership, the two companies said they hoped to seize new opportunities to grow their sales in Sicily.
“Moncada Frutta occupies a leading position when it comes to fresh fruit and vegetable distribution across Sicily, but there are still lots of opportunities to grow, particularly in large-scale retailing,” said Raffaella Orsero, chief executive of Gruppo Orsero.
“We are honoured that the Moncada family has decided to keep this entrepreneurial project going with the group by taking up a special position in the Orsero business structure.”
Angelo Moncada, president of Moncada Frutta, commented: “The complete integration of Moncada Frutta into the Orsero Group opens up new opportunities for development and synergies in Sicily. In fact, the operation has a great strategic value in terms of strengthening the Orsero Group's activities on the island, and opening the door to new and interesting collaborations with other companies in the Moncada group.”