ADQ expands its food & agriculture portfolio with Unifrutti acquisition
ADQ, a leading Abu-Dhabi centric holding and investment firm has announced an agreement to acquire a major equity stake in Unifrutti Group, a foremost universal distributor and producer of top-quality fresh produce, from the existing shareholders.
As per sources, Unifrutti is the universal titleholder in trade, production, and distribution of nearly 100 types of fresh produce such as bananas, apples, grapes, cherries, and citrus fruits.
Unifrutti is reportedly conducting sales of 560,000 tons of fresh fruits every year and more than 14,000 hectares of farms in four continents. The group now functions with complete integration along the value chain, catering to almost 500 customers in 50 nations.
Gil Adotevi, Executive Director of Agriculture and Food at ADQ stated that the firm is creating agriculture and food portfolio with the mission of generating strong financial rewards along with strengthening food resilience in the UAE.
Gil mentioned that the investment in Unifrutti will allow them to develop a universal platform for fresh produce that matches their other portfolio firms in the food chain.
It was further claimed that the firm’s strategic long-term investment will help speed up Unifrutti’s fore coming growth phase and build a strong position as a leader in the international fresh produce sector.
Commenting on behalf of Unifrutti Group shareholders, Mondin and De Nadai families stated that the track record of ADQ in the agriculture and food sector makes the firm an ideal major investor and shareholder.
They further mentioned sharing a common notion in the global development potential of the fresh produce sector and a plan to get hold of commercial opportunities present in the sector to drive sustainable expansion.
For the record, this agreement is an important milestone in Unifrutti’s journey and the investment from ADQ will allow the global footprint expansion along with the long-term expansion strategy.
About Author
Mateen Dalal
A qualified electronics and telecommunication engineer, Mateen Dalal embarked on his professional journey working as a quality and test engineer. Harnessing his passion for content creation however, Mateen pens down industry-rich articles for ReportsGO.com and a few other portals. Channelizing his e...