European fresh produce titan AMFresh is aiming for an impressive €3.5bn in sales by the end of this decade and is prepared to invest an additional €2bn to accelerate its dominance through further acquisitions.
Now recognised as Spain's largest supplier of fruit and vegetables, AMFresh has been on a relentless acquisition spree over the past five years, doubling its annual sales to a reported €2bn since 2018. "With a strategic plan to reach €3.5bn by 2030, our expansion plan remains ambitious and focused," the company announced this week.
According to a recent report in Spanish newspaper Expansión, AMFresh now supplies half of the world’s top 20 retailers, including Walmart, Kroger, Tesco, Marks & Spencer, Carrefour, Lidl España, and Mercadona.
Journalist Víctor Martín Osorio, writing with Nerea San Esteban, highlighted the group’s remarkable growth on LinkedIn: “Few Spanish companies are as significant and yet as little known to the general public as AMFresh Group, but their numbers speak volumes.”
AMFresh is making it crystal clear that it’s actively seeking new investment opportunities. “Over the past five years, AMFresh Group has led acquisitions exceeding €2bn, and we plan to match this figure over the next six years,” it revealed.
The group’s innovative edge has propelled the licensing of more than 100 new natural fruit varieties, all boasting unique flavours and health benefits—such as enhanced antioxidant content—grown by over 2,100 producers across 24 countries worldwide.
In August 2023, AMFresh partnered with EQT Future and Paine Schwartz Partners to acquire fruit breeding company International Fruit Genetics, which was then merged into its subsidiary SNFL. The combined entity, acquired for an estimated €1.6bn, now operates under the new name Bloom Fresh International.
Less than a year earlier, AMFresh took a controlling stake in Kuala Lumpur-based Fruit-X, paving the way for the Asia-focused joint venture, Fresh Fruit-X. And in 2022, it joined forces with Spanish table grape specialist Uvasdoce to establish Uvasdoce Fresh.
Back in 2021, AMFresh also acquired a controlling stake in UK apple and pear supplier Avalon Produce, rebranded as Avalon Fresh.
With an insatiable appetite for growth, AMFresh is poised to continue reshaping the global fresh produce landscape.
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