Italy's GF Group, acquisitions in Argentina
Italy
Tuesday 04 March 2008
The Italian GF Group S.p.A. purchased yesterday the majority shareholding in Moño Azul S.A. and Salvador Liguori S.A., two of the most established and traditional exporters of Argentina’s “Valle di Rio Negro”, title holders of the prestigious brands Moño Azul and Salud.
This acquisition will allow the group to develop a vertical integration that today represents one of the guidelines for growth in the fruit and vegetable production and distribution sector, the company’s core-business.
Analysing the aggregated figures of these two realities, GF will consolidate a sales revenue of over 50 million US dollars with a workforce of more than 1200 people.
The companies own land with a total surface area of approximately 2,900 hectares of which 1,600 are dedicated to apple, pear and stone fruit cultivation, including 150 hectares of organic products.
The industrial facilities include four packing and cold storage warehouses for a total covered surface area of over 80.000 square meters.
The cold storage capacity is of 65.000 tons of which 20,000 of controlled atmosphere and ten packing lines that allow the processing of about 130,000 tons.
Thanks to this acquisition, the GF Group, that operates in the marketing of fruit and vegetables, in the shipping and logistics sectors as well as in the building sector, and that is already active in production both in Europe and overseas, intends to strengthen the production and distribution line ensuring autonomy and integration which are typical of multinational groups.
This acquisition will allow the group to develop a vertical integration that today represents one of the guidelines for growth in the fruit and vegetable production and distribution sector, the company’s core-business.
Analysing the aggregated figures of these two realities, GF will consolidate a sales revenue of over 50 million US dollars with a workforce of more than 1200 people.
The companies own land with a total surface area of approximately 2,900 hectares of which 1,600 are dedicated to apple, pear and stone fruit cultivation, including 150 hectares of organic products.
The industrial facilities include four packing and cold storage warehouses for a total covered surface area of over 80.000 square meters.
The cold storage capacity is of 65.000 tons of which 20,000 of controlled atmosphere and ten packing lines that allow the processing of about 130,000 tons.
Thanks to this acquisition, the GF Group, that operates in the marketing of fruit and vegetables, in the shipping and logistics sectors as well as in the building sector, and that is already active in production both in Europe and overseas, intends to strengthen the production and distribution line ensuring autonomy and integration which are typical of multinational groups.
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