Alantra Private Equity portfolio company Surexport consolidates its leadership position with three highly strategic acquisitions
Date 23 October 2023
Type Press Releases
- Highly complementary acquisitions in Spain, Portugal, and Morocco to increase production capacity, diversify product offering and boost all-year round product availability to serve top European retailers
- Relevant milestone in the Company’s evolution, reinforcing Surexport’s positioning as the leading European player in the berry industry, one of the fastest-growing categories in the Western European agriculture sector
- €300m in revenues expected to be surpassed over the next three years upon integration of these add-ons and the implementation of further growth initiatives
Surexport Compañía Agraria (“Surexport”), an Alantra Private Equity portfolio company and Europe’s leading independent producer and distributor of fresh berries, has successfully completed three highly strategic add-on acquisitions: Portuguese raspberry producer Solana, Moroccan blueberry producer AG Group, and Spanish organic berry producer Flor de Doñana.
The acquisitions, which were supported by Alantra PE and co-investors Keyhaven Capital Partners and Oquendo Capital, consolidate Surexport’s leadership position in a highly fragmented industry, broaden its production capabilities in core geographies, complement the Company’s product offering and boost all-year round product availability to serve top European retailers.
Headquartered in Huelva, Spain, Surexport offers a comprehensive and highly differentiated product portfolio of strawberries, raspberries, blueberries, and blackberries. With a diversified geographical footprint across Spain, Portugal, and Morocco, the Company has longstanding relationships with tier one European food retailers and best-in-class logistics and processing capabilities. The combined group reported over €220m revenues for FY22/23, with a total productive surface of 1,600 hectares.
Considering the three add-on acquisitions and other strategic projects currently underway in Peru, Mexico, and Eastern Europe, to serve the soaring demand in the berry sector, Surexport expects to surpass €300m in revenues over the next three years.
The investment group led by Alantra Private Equity entered the Company’s shareholding in November 2020 and has since then been supporting Surexport’s CEO and founder, Andrés Morales, in the definition and execution of the Company’s strategic growth plan.
Alantra Private Equity is invested in different sectors of the food industry, in companies such as Monbake, Unión Martin, Frías Nutrición, AGOlives, and Hiperbaric.
The parties have agreed not to disclose the terms of the transactions.