Hortifrut acquires Spanish rival

Hortifrut acquires Spanish rival

Corporate & Sovereign Strategy M&A Chile Europe Peru Spain Africa

Chilean berry grower Hortifrut said it has entered into a deal to acquire 100% of Spanish rival Atlantic Blue for €241 million ($280 million), expanding its business in Spain as well as Morocco and Peru. With the deal, which is subject to legal approvals in Spain, Hortifrut will gain 400 hectares of berry fields in Spain, 248 hectares in Morocco and another 400 in Peru, as well as a processing plant in Spain, according to a securities filing late on Monday. "This is a significant step to boost o

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