Frutura to acquire Subsole Chile
Chilean fruit exporter Subsole has signed an agreement to sell to Frutura, a sales and marketing network formed in 2021 with the acquisition of Agrícola Don Ricardo (Peru), Dayka & Hackett and TerraFresh Organics (U.S.) and the addition of Frutura Uruguay in March 2022.
Subsole is among the largest Chilean exporters of table grapes to the U.S., Europe and Asia. Other offerings include citrus, kiwifruit, avocados, cherries and pomegranates. To date, the company has shipped 10 million boxes of fruit to customers in more than 40 countries.
“Having a strong presence in Chile is integral to our growth strategy so we’re delighted that Subsole is now part of our portfolio,” said David Krause, Frutura’s CEO. “Chile’s a mature player in LATAM and the global marketplace respects the country’s well-earned reputation for high-quality fruit.
“We’re excited about the ways we can add value to Subsole’s table grape business as they lean into superior, proprietary varietals,” said Krause. “And the demand for cherries, particularly from China, makes that a crop of significant potential that we intend to accelerate.”
At the heart of Subsole’s culture is a sense that, despite their growth, the company remains a family of farmers. The architect of this focus-on-farmers and profound respect for the workers of the company is Subsole co-founder Miguel Allamand, who will become a shareholder in Frutura, as well as serve as chairman emeritus to the new company.
“Becoming part of Frutura will allow Subsole to reshape, in a profound way, how we supply and run our business,” said Subsole CEO Juan Colombo, who continues to lead the company. “It will allow us to generate new synergies and new opportunities as we recalibrate our business environment.
“The fact that we already know and have even partnered with, many of the individuals associated with Frutura and its companies, made this a very comfortable climate for discussion,” said Colombo. “We’re impressed by Frutura’s disciplined approach to the business and I’m convinced that being a part of their team will add immediate value to our operations.”