August 3, 2022 REEDLEY, CA – Frutura, a global sales and marketing network formed in 2021, marked its first year of operation by finalizing the acquisition of major Chilean fruit exporter, Subsole.
This event opens the door to meaningful new investment, signaling Frutura’s confidence in Subsole’s growth potential and in the strength of its leadership.
There are a number of new packing and varietal-expansion initiatives in the works, but most immediately, Frutura is laser-focused on adding acreage to Subsole’s existing footprint. Negotiations to acquire additional operations are close to being signed, which will exponentially increase Subsole’s export volume as a start, particularly with avocados and citrus.
These pending land acquisitions projects go towards the founding goal of Frutura to supply high-quality fruit, in the varieties customers demand, 365 days a year. To that end, Subsole’s new land will be in multiple Chilean geographies and in different growing zones. This will further diversify the company’s supply base and will give Subsole even greater flexibility to pack and sell.
“There are many reasons why Frutura is bullish on Subsole,” said Frutura CEO David Krause. “But they all begin with our faith in their CEO, Juan Colombo, and in his team. Juan is that rare natural born leader who has built an extraordinarily capable and committed senior team. There is deep bench strength at every level at Subsole and our confidence in this brand cannot be overstated.”
Subsole already dominates in table grapes and is the largest Chilean exporter of that crop to the U.S., Europe, Latin America and Asia. Other offerings include citrus, avocados, cherries, pomegranates and kiwis. To date, the company has shipped 10 million boxes of fruit to customers in more than 40 countries.
“This has been an incredibly challenging year in Chile for fresh produce exports, with a logistics’ meltdown leading to escalating costs throughout the chain,” said Subsole CEO, Juan Colombo. “Our team, from senior leaders to our colleagues in the fields, has worked incredibly hard. Because of their efforts, Subsole now finds itself in an enviably solid position on which to build.”
When you add to this strong foundation, Frutura’s faith in us, and the level of investment they’re making, it feels that together we’re about to unleash the full power of the Subsole “machine,” added Colombo. “Frutura saw an opportunity in acquiring Subsole and this week’s closing sees their decision rewarded. What our management team has already accomplished, working alongside David and his colleagues, is a source of pride and a harbinger of future growth for Subsole.”
Subsole’s long-held commitment to the principles of ESG, foundational to Frutura’s brand, is another reason they continue to be a fit with Frutura. Since its inception, Subsole has sought to ensure that their policies and processes respect the environment, particularly in the areas of social responsibility, effective soil management, water awareness and energy usage.
Subsole was the first agricultural operation in Chile to design and install a photovoltaic power plant in Copiapó, making the energy captured clean and renewable. This process was expanded with additional installations in both northern and southern regions.
Frutura is a global sales and marketing network committed to supplying international customers with premium fruit, 365 days a year. The company’s growers and marketers consistently deliver produce of the highest quality, demonstrate operational excellence and share Frutura’s core values around social and environmental performance. www.fruturaproduce.com
Headquartered in Santiago, Subsole is one of Chile’s largest and most iconic fruit exporters. They are the largest Chilean exporters of table grapes to global markets and other crops include citrus, kiwi, avocados, cherries and pomegranates. Integrated from farm to final consumer delivery, Subsole strives to be optimal stewards of a sustainable and respectful agro-export business. www.subsole.com
Media Contact: Alison Holt 626.627.4770