The Abac fund has completed the acquisition of "a majority stake" of the Agroponiente group, from Almeria.
In a statement, this fund recalled that the operation also entails that Agroponiente, in turn, is acquiring the company Lara Castañeda. In early February, the CNMC greenlighted the plan of the Abac investment fund to buy the fruit and vegetable company Agroponiente. In this way, Abac will control a horticultural business group that aspires to lead this market in southern Europe.
"Abac's investment in Grupo Agroponiente aims to accelerate its growth and improve its services to agricultural producers and its clients," Abac said in a statement, reporting that Diego Rafael Amat Navarro will continue as president of the group, while Miguel López Martinez will become the CEO.
Abac has not specified the actual share of Agroponiente's capital that it will control or the cost of the transaction, which has been channeled through the Abac Solutions investment fund.
The president of Agroponiente said that "it makes us truly proud to have been chosen by a fund like Abac Solutions to materialize its operation in this sector. It is a move that will allow us to grow, become more competitive and offer better services to our customers, but also, above all, to our agricultural producers."
For his part, the president of Lara Castañeda, Antonio Lara, will be the new vice president of the Agroponiente Group.
Oriol Pinya, founding partner of Abac Solutions, highlighted that "Almeria's fruit and vegetable sector is an example of dynamism, innovation, growth and potential," so he is convinced that Grupo Agroponiente "is ready to safely undertake the biggest challenges."
