MADRID, SPAIN - An acquisition is taking place between the consortium led by AMFRESH Group and Special New Fruit Licensing Limited (SNFL) to purchase International Fruit Genetics (IFG). AMFRESH, as well as the Swedish fund EQT and the American fund Paine Schwartz Partners (PSP), has entered an agreement to purchase the entire IFG business. SNFL expects to close the transaction in the coming weeks.

“Our entire team and partners are proud to be able to move forward with the green light of the arbitration,” Alvaro Muñoz, Chief Executive Officer, commented. “This is the beginning of a breakthrough for the FRESH food sector and our greatest ambition is to foster the most innovative, natural, sustainable, and healthy products to delight consumers globally. Our aim is to increase consumption and market size of fresh, healthy, and affordable products globally.”

Additionally, Bluestone Food and Tech, Muñoz's family holding, closed an agreement to become the sole 100 percent equity partner of AMFRESH Group and acquire 100 percent of AMC Group.

AMFRESH, a group that in recent years has been in full expansion and involved in M&A activity, will follow its Strategic Plan with the objective of doubling its sales (currently €1.5 billion or $1.6 billion USD in 2023) to reach €3 billion or $3.3 billion USD in 2028 and tripling its EBITDA in the same timeframe.

“At AMFRESH we have been working on the integration of our supply chain with the aim of always adding value to our retail partners. Our focus is on offering innovative solutions that allow differentiation and are always based on technology,” Pablo Sánchez-Lozano, Chief Operating Officer, said. “We have tools that cover the full cycle including genetics, agriculture, technology, and sustainable practices; our degree of flexibility is unparalleled, and our customized models adapt to all clients, geographies, and categories.”

For more information on this acquisition, click here.

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AMFRESH Group