Alantra Private Equity portfolio company Surexport completes fourth strategic add-on with the acquisition of a majority stake in Jong Fruit
Date 9 January 2024
Type Press Releases
- Highly complementary acquisition that expands Surexport’s strawberry production capabilities into Northwest Europe
- Important milestone in the Company’s growth strategy, consolidating Surexport’s position as the leading European player in the berry industry, one of the fastest-growing categories in the Western European agriculture sector
- €340m in revenues expected to be surpassed by the end of FY 23/24 upon integration of the four add-ons and the implementation of further growth initiatives
Madrid – Surexport Compañía Agraria (“Surexport”), an Alantra Private Equity portfolio company and Europe’s leading independent producer and distributor of fresh berries, has successfully completed the acquisition of a majority stake in Dutch strawberry producer Jong Fruit.
With 24 productive hectares under glass, Jong Fruit specializes in year-round cultivation of strawberries, including the exclusive variety Inspire, already produced by Surexport in Spain. Through this acquisition, Surexport will expand and further diversify its geographical production capacity into Northwest Europe, enhancing the year-round supply of berries to major European retailers.
Jong Fruit’s founding shareholders and key managers, brothers Arian de Jong and Rob van der Wouw, will continue to lead the business alongside Surexport.
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, Morocco, and now the Netherlands, the company has longstanding relationships with tier-one European food retailers and best-in-class logistics and processing capabilities. The combined group reported over €235m revenues for FY22/23.
Building on the acquisitions of Portuguese raspberry producer Solana, Moroccan blueberry producer AG Group, and Spanish organic berry producer Flor de Doñana, this acquisition marks the fourth strategic add-on Surexport has completed within one year and further consolidates Surexport’s leadership position in the highly fragmented berry industry. Additionally, this add-on represents another important step in Surexport’s growth strategy aimed at surpassing €340m in total revenues by the end of FY 23/24.
Alantra Private Equity entered Surexport’s shareholding in November 2020 and 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 transaction.