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Citri&Co strengthens its leadership in Europe by integrating the lemon market leader Perales & Ferrer

Press release

01/08/2019

Citri&Co has reached an agreement with Perales & Ferrer, one of Europe’s leading exporting companies of fresh lemons, to join forces with the group and provide an even better customer service through a more comprehensive portfolio of citrus fruits.

This transaction continues to build the project launched by Miura in 2016, when it became a shareholder of Martinavarro and a year later integrated Río Tinto to create Citri&Co, the leading European organic and conventional citrus group.

The Perales family now joins the Martinavarro, Ballester and Garavilla families and, together with Miura and the management team, will contribute to the further development of Citri&Co, which as a result of this transaction will manage around 600,000 tons of citrus, 9 packing houses, over 8.000 hectares and a yearly turnover of €400m.

Perales & Ferrer, led by Joaquín Perales, will continue to be run independently and will build on the group’s core strengths by further developing its organic lemon specialties, ensuring the security of supply is managed under the Total Quality model and optimising logistic services with its clients.

Citri&Co will continue to pursue its strategy of developing new countries and expanding its product portfolio, while working on its sourcing diversification across the Northern and Southern hemispheres to guarantee top-quality products all year round.

About Perales & Ferrer (www.peralesyferrer.com)

Perales & Ferrer, founded in Bigastro (Alicante) in 1975 by Mr. Joaquín Perales Pérez, is one of the leading exporters of fresh lemons. It manages both distribution brands and its own brand, La Perdiz, which is highly recognised and prestigious in the industry. It operates 3 packing houses in Alicante, having recently invested in a new one to increase its export capacity and provide the company with a technological leap. Overall, Perales & Ferrer manages around 65,000 tons with sales of over €60m.

About Citri&Co (www.citricoglobal.com)

Citri&Co, founded in 2017 as a result of the integration of Martinavarro and Río Tinto, is the European leader in organic and conventional citrus fruits, with volumes of over 500,000 tons sold to the leading retailers in Europe. In organic fruit, it operates a vertically integrated model with dedicated organic orchards, exclusive organic production and packaging lines and with organic packing houses and certificates that guarantee quality and safety. In total, the group manages more than 8.000 hectares and 6 packing houses in Castellón, Valencia and Huelva.

About Miura Private Equity (www.miuraequity.com)

Miura is a private capital firm based in Barcelona, with assets under management in excess of €700m. The firm specialises in investments in Spanish SMEs with attractive growth and consolidation plans, and a clear international expansion thesis. Since 2008, Miura has invested in more than 30 companies for a total value of more than €800m.