31 March 2022

PRESS RELEASE: ADQ to expand its food & agriculture portfolio by acquiring significant stake in Unifrutti

  • Unique investment in a leading global player in fresh fruit and vegetables production, sourcing, trade and distribution
  • Strategic investment will accelerate Unifrutti’s global growth strategy

ADQ, an Abu Dhabi-based investment and holding company, today announced it has entered an agreement to acquire a majority equity stake in Unifrutti Group (“Unifrutti”), a leading global producer and distributor of high-quality fresh produce, from existing shareholders.

Unifrutti is a global champion in  the production, trade and distribution of 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 operateswith full integration along the value chain, serving 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 commented: “ADQ’s track record in the food and agriculture sector makes the company an ideal major shareholder and investor. We share a common belief in the global growth potential of the fresh produce sector and a strategy to capture commercial opportunities present in the sector to generate sustainable growth. As such, 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 (LDC), 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, an Abu Dhabi-based global leader in forage and other agribusiness sectors; and Agthia Group, one of the region’s leading food and beverage groups.

Completion of the transaction is subject to customary closing conditions, including regulatory approvals.

Discover key insights into the investments, opportunities and enablers for developing a robust, regional food system in the ADQ FWD paper, ‍’Cultivating the Future of Food, Bolstering Food Resilience’, available at: https://fwd.adq.ae/food-and-agriculture

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