ADQ-owned food producer Unifrutti expands in Peru

Unifrutti, a fresh food producer owned by the UAE’s sovereign wealth fund ADQ, has completed two acquisitions in Peru as part of its global expansion strategy.

The company has purchased AvoAmerica Peru and Bomarea from US-headquartered Solum Partners and Alpine Fresh, strengthening its presence in the South American nation.

The value of the deals was not disclosed.

The new buyouts follow its acquisition in January of Verfrut, a food producer and exporter in Chile and Peru.

With a combined area of close to 2,000 hectares, Bomarea and AvoAmerica Peru are among the top Peruvian producers of premium blueberry varieties and avocados.

“With blueberries and avocados being among the most desired and rapidly expanding superfruits, the addition of these companies to our portfolio aligns with our pledge to grow and supply superior-quality fruits,” said Unifrutti group CEO Mohamed Elsarky.

ADQ has owned Unifrutti, which distributes 500,000 metric tonnes of fresh fruits worldwide annually, since 2022.

Unifrutti is looking to grow under ADQ, with Latin America being the right place for the “initial phase” of its plans, chief M&A and strategy officer, Karl Stehelin de Taisne, told Reuters.

“Latin America is probably the world’s most important region for fruit exports, in particular to the US, Europe and China, so it made a lot of sense for our M&A efforts to begin in Chile and Peru,” he said.