This week global sales and marketing group Frutura, Reedley, CA, announced an agreement to acquire all company assets of Santiago, Chile-based Giddings Fruit BB #:379225 and Chicago-based Sun Belle BB #:126047.
In the announcement, Frutura CEO David Krause called them the most significant acquisitions the company has made. Previous acquisitions and partnerships include Dayka & Hackett, TerraFresh Organics, Frutura Uruguay, Subsole Chile, and Agri-Cooling & Logistics.
The Giddings and Sun Belle acquisitions give Frutura the ability to supply customers year-round supplies of conventional and organic berries and seasonal cherries, which adds to it being a supplier of table grapes, citrus, avocados, stone fruit, mangos, kiwifruit and some other fruits.
In an interview, Krause said Frutura may be finished with acquisitions for a while.
“This gets us to a pinnacle point in scale,” he said October 16. “We’re filling and rounding out what we planned to do, so it’s doubtful we’ll expand into new crops.”
But he said Frutura will continue to listen to customer needs, and that could include further expansion.
The Giddings deal gets Frutura into the genetics and nursery business, Krause said, and with the Sun Belle vertical fruit business, the company plans to supply North American, Asian and European markets with berries from the U.S. and Canada, Mexico, Chile and Peru, with plans to expand acreage in Morocco, Spain and Portugal for the European market.
He added that with Giddings having a China office, it’s likely that Frutura will expand operations there.
Sun Belle founder Janice Honigberg and Giddings founder Julio Giddings have a long-time business relationship, and both will join the Frutura board of directors, and continue leading their divisions, Krause said.
“I don’t see them slowing down much,” Krause said. “We’ll continue using their expertise strategically.”
Krause said the acquisitions should close in the next 45 days, and terms of the deals were not publicly disclosed.
