Santiago, Chile
Hortifrut and VITALBERRY have recently announced a merger agreement that is intended to capture synergies and economies of scale that add value to their producers.
The merger will be implemented by the relevant merger agreements, under which Hortifrut would be the continuing company and shareholders would enter VITALBERRY Hortifrut property with a 25%, equivalent to the value of the company together with other assets, agricultural land and productive assets, while 75% would be left remaining Hortifrut.
President Hortifrut, Víctor Moller, said, "This is great news for all of us in the industry berries, from the producer to the end customer. This operation is a response to international market demand providers with high capacity and efficiency to meet their increasingly demanding ".
It is estimated the company could reach global sales of over U.S. $300 million by the end of the first year together, operating in different countries.
VITALBERRY, Andrés Solari, stated, "This merger will enable the combined company to achieve new and better opportunities for growth, exploiting economies of scale and competitiveness to address the international market berries, adding, at the same time, value to producers and delivering an excellent service to its customers throughout the year ".
Together, the companies will cover 1.900 hectares of land on different continents.
Hortifruit
