ADQ, an Abu Dhabi-based investment and holding company, has signed an agreement to acquire a majority equity stake in Unifrutti Group, a global producer and distributor of fresh produce.
The global business of Italy-based Unifrutti includes more than 100 varieties of fresh produce including apples, bananas, cherries, grapes and citrus fruits.
With approximately 560,000 tons of fresh fruit sold annually and more than 14,000 hectares of farms across four continents, the group serves more than 500 customers in 50 countries.
Gil Adotevi, executive director of food and agriculture at ADQ, said: “We are developing our food and agriculture portfolio with the aim of generating strong financial returns while bolstering food resilience in the UAE.
“Our investment in Unifrutti would enable ADQ to develop a global platform for fresh produce that complements our other portfolio companies throughout the food value chain. We believe our long-term strategic investment will help accelerate Unifrutti’s next phase of growth and build on its strong position as a leader in the global fresh produce sector.”
Speaking on behalf of the shareholders at Unifrutti Group, the De Nadai and Mondin families said: “This agreement is a significant milestone in Unifrutti’s journey and ADQ’s investment will enable us to expand our global footprint in line with our long-term development strategy.”
The proposed investment in Unifrutti will build on ADQ’s food and agriculture portfolio.
Its portfolio includes investments in Louis Dreyfus Company, one of the world’s largest vertically integrated food, feed, fibres and ingredients companies; Silal, Abu Dhabi’s leading fresh produce and agri-tech company; Al Dahra Holding and Agthia Group.
Completion of the transaction is subject to customary closing conditions, including regulatory approvals.
Established in 2018, ADQ’s investments span key sectors of the UAE’s diversified economy including energy and utilities, food and agriculture, healthcare and life sciences and mobility and logistics.
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