SALINAS, CA – Munger Brothers, LLC and Hortifrut S.A., partners of Naturipe Farms, have announced an intent to merge, signing a memorandum of understanding.
“Both are leading berry companies, highly innovative with experienced and knowledgeable management teams who have consistently focused on exceptional customer and consumer experiences,” said Naturipe Farms CEO Dwight Ferguson, in a press release. "This integration will provide greater synergies and capabilities to the entire Naturipe Farms organization; implementing exciting new berry development projects with a focus on proprietary varieties.”
Munger-Hortifrut North America, Inc, resultant company from the merger, will function as a new subsidiary of Hortifrut S.A., and will manage the company’s North American berry operations.
Following the merge, Naturipe and its subsidiaries will have extended its reach to:
- British Columbia
- Washington
- Oregon
- California
- Mexico
- Peru
- Brazil
- Argentina
- Chile
- Europe
- Africa
- Asia
The companies expect the merger to take place during the fourth quarter of 2016.
“With this unique event in the produce industry, we have integrated berry production across the spine of the Pacific coast line from British Columbia in the north to the southern tip of Chile,” said Victor Moller, Founder and Chairman of Hortifrut S.A. “With this merger, Hortifrut S.A. strengthens its position as a leading integrated blueberry grower/distributor globally. Additionally, this will enable us to consolidate our position in other important markets such as Europe and Asia.”
Hortifrut said that this merger is aligned with its initial public offering, as announced in 2012. Moller also stated that the company expects a stable future partnership from the merger, due to the success of past collaborations.
“Our family is thrilled to be merging with Hortifrut and the Moller family, our cultures and values are closely aligned and we are confident this will be a seamless transition,” remarked David Munger, Co-Founder of Munger Brothers, LLC.
Munger Brothers, LLC produces blueberries from a recently expanded 3,000 acres of land, and cited its growing techniques and harvesting technologies for innovations such as its 2011 Ready to Eat blueberries.
Kable Munger, Co-Founder of Munger Brothers, LLC, added “This merger will enable even greater synergies and dedication of resources to implement new projects in North America, as well as expanding upon many excellent opportunities to better serve our customers worldwide.”
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