Stock ADQ1
ADQ has in the recent past shown a voracious interest in adding to its F&B assets. Image Credit: Supplied

Dubai: The Abu Dhabi investment company ADQ is acquiring a majority stake in Unifrutti, a global producer and distributor of fresh produce. With around 560,000 tonnes of fresh fruit sold annually and more than 14,000 hectares of farms across four continents, the latter serves more than 500 customers in 50 countries.

“We are developing our food and agriculture portfolio with the aim of generating strong financial returns while bolstering food resilience in the UAE,” said Gil Adotevi, Executive Director of Food and Agriculture at ADQ. “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.”

The current promoters of Cyprus-based Unifrutti Group, the De Nadai and Mondin families, said in a statement: “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 investment in Unifrutti will build on ADQ’s food and agriculture portfolio. Its portfolio includes investments in Louis Dreyfus Company, one of the biggest names in the global food commodities trade, Silal, Al Dahra Holding, and Agthia Group.

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