8 June 2022

PRESS RELEASE – Unifrutti consolidates performance in 2021 and lays foundations for continued growth

Despite the global challenges, Unifrutti posts a resilient performance and solidifies its evolutionary path towards value creation and long-term global expansion.

  • Unifrutti revenues reached $720m in 2021, increasing of 2% compared to the proforma revenues of 2020, despite unprecedented adverse climatic, logistical, and socio-economic conditions in both main production and end-markets.
  • The Group successfully completed in 2021 a due diligence process which led to the signing of a majority Share Purchase Agreement (SPA) from the Abu Dhabi holding and investment company ADQ in March 2022.

 

The Unifrutti Group, leading global producer and distributor of high-quality fresh produce, reported for its fiscal 2021 year a total $720m of Revenues, up 2% compared to its proforma 2020 revenues, with around 620.000tons of products distributed. With a Gross Profit Margin of 17% and an Adjusted EBITDA Margin at 11%, the Group registered an Adjusted EBITDA of $78m.

Over the year, the Unifrutti Group had total capital expenditure close to $41m, affirming the Group’s organic growth expansion strategy and its aim to ensure a stabler and more efficient supply of fresh products on a global level.

This resilient performance has occurred despite the several challenges that characterized the Group perimeter of operation across 2021, starting from unprecedent adverse climate conditions in Chile and Italy, two major productive locations for Unifrutti, unprecedent congestions and upheavals in the logistics sector, increased costs of commodities, and the continued effects related to the pandemic.

As Unifrutti Group’s Chief Executive Officer, Marco Venturelli said: “In 2021 we have shown that Unifrutti is ready to face the change and that we have the competencies, but above all the resilience, necessary to overcome any challenge. Over the past year we have continued to raise our standards and we have reached new important milestones which will guide us towards a new and more sustainable future. We remain extremely confident in the prospects of our sector and absolutely convinced of the potential of our global network and integrated positioning in the fresh fruit sector”.

 

The Group has been able to unite despite the complexities and implement adequate measures to address the new environmental conditions and lay solid foundations for continuous growth and expansion in the years to come.

In addition, in 2021 the Group joined forces and successfully completed the due diligence process that allowed the Shareholders of the Group to sign a majority Share Purchase Agreement (SPA) with the Abu Dhabi holding and investment company ADQ in March 2022.

This transaction, when concluded, represents the start of a new chapter for Unifrutti. ADQ’s track record in the food and agriculture sector makes the company an ideal partner for us and could allow Unifrutti to capture commercial opportunities present in the sector to generate sustainable growth, increasing our global reach and further expanding our footprint in line with a long-term development strategy.” explained Marco Cesarotto, Chairman of the Board of Directors of Fruchte Holdings Limited, on behalf of the Shareholders of the Group.

The agreement, planned to be completed within the year 2022 and subject to FDI (Foreign Direct Investments) and conditions precedent, enters within the long-term strategy of Unifrutti, which focuses on vertical integration and the provision of uninterrupted availability through the creation of a global network for fresh produces.

 

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