Frutura has signed an agreement to acquire Chilean fruit exporter Subsole. The deal comes just two weeks after Frutura announced it had acquired Uruguayan citrus company Citrícola Salteña.
The California-headquartered sales and marketing network also owns Peru’s Agrícola Don Ricardo, and Dayka & Hackett and TerraFresh Organics in the US.
Subsole is the largest Chilean exporter of table grapes to the US, Europe and Asia. It also exports citrus, kiwifruit, avocados, cherries and pomegranates to customers in more than 40 countries.
Subsole management said the company’s longevity is down to its employee’s focus on getting things done with innovation and sustainability along every step of the production supply chain.
“Having a strong presence in Chile is integral to our growth strategy so we’re delighted that Subsole is now part of our portfolio,” said David Krause, Frutura’s CEO.
“Chile’s a mature player in Latin America and the global marketplace respects the country’s well-earned reputation for high-quality fruit.
“We’re excited about the ways we can add value to Subsole’s table grape business as they lean into superior, proprietary varietals. And the demand for cherries, particularly from China, makes that a crop of significant potential that we intend to accelerate.”
Subsole’s co-founder, Miguel Allamand, will become a shareholder in Frutura and serve as chairman emeritus to the new company.
“Becoming part of Frutura will allow Subsole to reshape, in a profound way, how we supply and run our business,” said Subsole CEO Juan Colombo, who continues to lead the company.
“It will allow us to generate new synergies and new opportunities as we recalibrate our business environment.
“The fact that we already know and have even partnered with, many of the individuals associated with Frutura and its companies, made this a very comfortable climate for discussion.
“We’re impressed by Frutura’s disciplined approach to the business and I’m convinced that being a part of their team will add immediate value to our operations.”
Frutura said Subsole’s long-held commitment to the principles of ESG, foundational to Frutura’s brand, is another reason the acquisition is a good fit.
Since its inception, Subsole has sought to ensure that its policies and processes respect the environment, particularly in the areas of social responsibility, effective soil management, water awareness and energy usage.
Subsole was the first agricultural operation in Chile to design and install a photovoltaic power plant in Copiapó, making the energy captured clean and renewable. This process was expanded with additional installations in both northern and southern regions.
Look out for our exclusive interview with David Krause in the May edition of Eurofruit.