Spain´s GPF acquires fruit company Frugarva

This firm will be integrated into The Natural Fruit Company, a platform set up in 2019 when the fund bought Fruxeresa from Valencia and Frutas Naturales from Murcia.

With the incorporation of Frugarva to the project of The Natural Fruit Company, the combined group exceeds €200m in turnover and is positioned as one of the leaders in the citrus sector in Spain and the rest of Europe.

The fund pointed out yesterday that in this 2020 it has opened a logistics center in France and a new plant in Valencia, in which it has invested more than €25m.

Frugarva has been advised by A&G as financial advisor and Cuatrecasas as legal advisor, while The Natural Fruit Company has been advised by Uría Menéndez, KPMG and Garrigues.

Founded in 2015 by Martin Rodriguez-Fraile, Ignacio Olascoaga, Lorenzo Martinez de Albornoz and Guillermo Castellanos, GPF Capital currently has €700m of capital under management. To date, it has channeled more than €500m of equity and third-party capital to Spanish SMEs and expects to raise that figure to more than €1bn by the end of GPF Capital III's investment program.

Frugarva, founded in Murcia in 1965, is one of the leading companies in Spain in the production, processing and distribution of lemons and pomegranates. Its turnover is over than €50m, with exports representing more than 90% of the total.