Chilean fruit producer Hortifrut has agreed to take over the blueberry business of Talsa for $160m.
In addition to the cash payment, Talsa will get a stake of 17.13% in the merged company alongside a result-based reward.
Talsa, a Peruvian agricultural developer is considered to be a leading producer, exporter and distributor of blueberries in the Southern Hemisphere.
The combination with Talsa’s blueberry business would expand Hortifrut’s production to 2,200ha and its export volume to 45,000 tons to global clients and consumers. According to Hortifrut, the current production capacity has the potential to hit 100,000 tons per year.
Hortifrut president Victor Moller said: “This merger provides HORTIFRUT and the Naturipe Brand a unique position within the industry, ensuring first quality production and facilities in the US, Mexico, Brazil, Argentina, Chile, Europe, Asia and now with a stronger position in Peru.
“This agreement positions us as a leading global platform of enormous strength throughout the 52 weeks of the year, making us a very attractive partner for retailers, foodservice distributors and eCommerce channels worldwide.”
Hortifrut’s merger agreement with Talsa will see the former add 1,450ha of blueberry farms from the Peruvian produce company. It will also gain a couple of packing units from Talsa through the merger.
Currently, Hortifrut has 350ha of production in Trujillo and 400ha of production in Olmos, in partnership with Spanish Atlantic Blue.
Hortifrut and Talsa have been partners in Peru for more than four years. After the merger, Talsa’s berry business will come under the Hortifrut banner.
Hortifrut has operations across North America, South America, Asia and Europe. It is focused on the genetic and technological development, production, marketing and distribution of berries.
