AgroFreshthe world leader in post-harvest treatments for the horticultural sector and listed on the New York Stock Exchange, has announced the acquisition of the 75% from Tecnidex.
Tecnidex is a Spanish company based in Paterna (Valencia) dedicated to the development of fruit and vegetable health products and services, with an outstanding reputation and a long track record of success in the citrus market. Its portfolio of fungicides, waxes and biocides are complementary to AgroFresh's existing post-harvest business, and significantly accelerates its current diversification strategy.
The operation allows Tecnidex to benefit from AgroFresh's technologies, products, research and global distribution, as well as accelerating the geographical growth process they have just begun.
The Valencian company has a strong international presence, with its own companies in Morocco, Turkey, South Africa, Italy, Greece and Peru, and had a turnover of around €14m in 2016. Meanwhile, AgroFresh, based in Philadelphia, had a turnover of around €160M in the same period.
The Catalan biotech company AB-Bioticslisted on the Alternative Stock Market (MAB), has announced the sale of its product AB-Fortis with the Israeli biotech group Frutrarom. AB-Fortis is a patented micro-encapsulation system that provides the full recommended daily amount of iron in a single dose without the metallic taste and classic side effects.
AB-Biotics' divestment of this dietary supplement is part of its strategy to focus on the development and distribution of clinically documented probiotics. For Frutarom, however, the acquisition of AB-Fortis is a further step in its growth strategy in dietary supplements, speciality food ingredients, cosmetics and pharmaceuticals.
Frutarom is one of the world's leading flavours and ingredients groups with 60,000 products and around 30,000 customers in 150 countries.
AB-Biotics, founded in 2004 by Sergi Audivert and Miquel Ángel Bonachera and based in Sant Cugat del Vallés (Barcelona), is a biotech listed on the MAB since 2010. The Catalan company posted losses in the first half of this year amounting to €769,000, which represents 83% less than in the same period of 2016. In addition, its turnover rose by 71% to €3.39M.
Acquisitions in the food sector: Portobello Capital and Ebro Foods
Telefónica Open Future: growing the venture capital is corporate in our country
Divestment of Avet Ventures in the Catalan company Nuroa
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