Skip to content Skip to Search
Skip navigation

ADQ-owned food producer Unifrutti expands in Peru

AvoAmerica's avocado fields 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.

Latest articles

An artist's impression of part of the Diriyah Square development

Diriyah Square planned for historic Riyadh district

A public space featuring 400 retail outlets and 100 restaurants and cafes is planned for the historic Riyadh district of Diriyah. Diriyah Square will be announced next week at the World Retail Congress in Paris and aims to attract a combination of international retail brands and local artisans.  Diriyah Gate Development Authority group CEO Jerry […]

Nature, Undersea cables account for as much as 90 percent of Europe-Asia telecommunications, Water

Iraq and Kuwait team up for European telecom corridor

Iraq’s Informatics and Telecommunication Public Company, a division of the Ministry of Communications, has signed an agreement with Kuwait’s Zajil Telecom to create a telecommunications corridor from the Gulf region to Europe, transiting through Iraq and Turkey. The new route will pass through Iraqi sea and land ports. Iraq’s minister of communications Hayam Al-Yasiri said […]

Passengers at Beijing Capital International Airport. Air China will fly from the airport to Riyadh three times a week.

Third Chinese airline to launch flights to Saudi Arabia

Air China is set to begin flights to Riyadh in May, becoming the third Chinese airline to establish a route to Saudi Arabia. It joins China Southern and Eastern Airlines in connecting China with the kingdom.  Air China’s Airbus A330-300 will serve the Beijing-Riyadh route three times a week. The expansion in capacity between the […]

Highway traffic in California. Opec said the upcoming 'driving season' in the US will provide the usual additional demand for fuel

Opec stands by predictions for oil demand growth

Opec predicts robust fuel use this summer and has stuck to last month’s forecast of relatively strong growth in oil demand in 2024 and 2025. The oil producers’ organisation predicted in its monthly report that global demand will rise by 2.25 million barrels per day (bpd) in 2024 and by 1.85 million bpd in 2025. […]