UNIFRUTTI GROUP ACQUIRES BOMAREA AND AVOAMERICA PERU TO FURTHER STRENGTHEN ITS GLOBAL MULTI-FRUIT PLATFORM

• Unifrutti further expands its global multifruit platform into blueberries and avocados through the acquisition of Bomarea and AvoAmerica Peru
• The two companies own circa 2,000 hectares of premium blueberry and avocado plantations, complementing Unifrutti's existing product portfolio
• This follows the announcement of the acquisition of Latin American fruit producer and exporter Verfrut

ABU DHABI, UAE, March 11, 2024 /PRNewswire/ -- Unifrutti Group, a leading global producer and distributor of fresh fruit, announced the acquisition of 100% of Bomarea and the Peruvian operations of AvoAmerica (AvoAmerica Peru) from the US-based agribusiness investment firm Solum Partners and the US-based fresh fruit and vegetables company Alpine Fresh.

AvoAmerica's avocado fields in Peru.

The two acquisitions strengthen Unifrutti's presence in Peru and enrich its multi-fruit portfolio with premium blueberries and avocados. Unifrutti is focused on growing and providing a consistent, secure supply of premium produce to its customers worldwide, and these additions underscore its commitment to meeting consumers' demand for healthy and nutritious products.

With a combined area of close to 2,000 hectares, Bomarea and AvoAmerica Peru are recognized as leading Peruvian producers of premium blueberries varieties and avocados, respectively. The acquisition strategically positions Unifrutti to meet growing demand for blueberries and avocados from a global customer base and increases its access to important markets including the US and China. Bomarea and AvoAmerica Peru will also continue to benefit from enduring relationships and established commercial partnerships, including ongoing collaborations with Alpine Fresh and Westfalia Fruit.

Mohamed Elsarky, Unifrutti Group CEO, emphasized the strategic importance of this acquisition: "The incorporation of Bomarea and AvoAmerica Peru into Unifrutti not only broadens our product range but also enhances our customer service excellence. With blueberries and avocados being among the most desired and rapidly expanding superfruits, the addition of these companies to our portfolio perfectly aligns with our pledge to grow and supply superior-quality fruits to our customers worldwide. Including Verfrut, these three acquisitions mark the initial phase of our ambitious plans to become a leading sustainable multi-fruit company globally."

The acquisition is subject to the satisfaction of customary closing conditions.

About Unifrutti Group:

Unifrutti Group is one of the main global players in the fresh fruit market, vertically integrated in production, marketing and distribution, with more than 14,000 hectares of land in Chile, Italy, the Philippines, and South Africa. The Group oversees the entire value chain and thanks to direct ownership of land located in different climate zones of the world, it is able to serve more than 50 countries all year round, distributing approximately 500,000 tons of fresh fruit to over 500 customers. Founded in 1948 by Guido de Nadai, Unifrutti now employs more than 11,000 people at its headquarters and operating locations in Japan, Chile, South Africa, the Philippines, Italy, Turkey, the Middle East, China, and India.

In January 2024, Unifrutti announced the acquisition of 100% of Verfrut, one of the largest fruit producers and exporters in Chile and Peru, with more than 7,500 hectares (of which 2,200 hectares in Peru)

Unifrutti Group is part of ADQ, an Abu Dhabi-based investment and holding company with a broad portfolio of major enterprises spanning key sectors of the UAE's diversified economy.

For more information on Unifrutti, please visit www.unifruttigroup.com or follow Unifrutti Group on LinkedIn

About Solum Partners:

Solum Partners is headquartered in Boston, Massachusetts, and manages approximately $1.9 billion in assets within the agriculture and food production industry. The firm utilizes its hands-on approach and industry knowledge to enhance the value of its investments and deliver attractive risk-adjusted returns for investors. The firm's strategy is driven by a focus on strong partnerships, operational excellence, and continuous improvement and is underpinned by a comprehensive approach to ESG.

For more information on Solum, please visit https://solumpartners.com

About Alpine Fresh:

Alpine Fresh is a leading US player in the fresh fruit and vegetable market. The company specializes in growing, packing, and shipping their products, including berries, asparagus, French beans, and Brussels sprouts. Alpine Fresh operates its own farms and packing sheds, and also collaborates with other top growers globally to ensure year-round availability of their products to customers.

For more information on Alpine Fresh, please visit www.alpinefresh.com.