Anaford Attorneys has advised MCH Private Equity and Antonio Llusar y Cia SLU on the acquisition of 100% of Naranjas Torres
The company specialising in premium citrus fruit Llusar and Naranjas Torres, a producer of high-end citrus fruit, have reached an agreement to integrate and create the largest Spanish premium citrus fruit group, with a joint turnover of more than €130 million.
Both companies state that their union will result in a volume of around 100,000 tonnes of marketed fruit per year produced in more than 45,000 square metres of facilities divided between Almenara and Chilches, in the province of Castellón, in the Valencian Community.
Although both companies will continue to operate independently, the main aim of this operation is to generate synergies, especially in terms of logistics and production.
Antonio Llusar y Cia is a family company founded in 1920 and located in Chilches (Castellón) that focuses its activity on the production and marketing of premium citrus fruits, especially oranges and clementines. The company has a strong international position where it exports more than 85% of its production. Llusar has almost 1,200 geographically diversified hectares in Spain and South Africa that guarantee compliance with the premium quality standards required by its customers, as well as year-round supply.
Naranjas Torres has been operating in the orange sector since the beginning of the 1940s. They are specialised in high-end citrus fruits and have been positioned as a premium brand from the beginning. The company has been involved in the handling, packaging and sale of oranges, tangerines, clementines and other fruit and vegetable products since 1960. In recent years, in addition to internationalizing our market and starting to export to other countries, we have also expanded our range of own-brand products, mainly with grapefruits, kakis, strawberries, melons, watermelons and cherries.
The team of Anaford Attorneys Valencia office was led by partners Enrique Lucas de Leyva (pictured left) and Fernando Antón de Salas (pictured right) and included lawyers Marta Sanz Climent, Esther Mont, Luis Sebastiá Rangel, Tomás Andrés Costa Isabel, José Luis Lucas de Leyva and Miriam Gimeno Casanova.
The Due Diligence Team was led by associate Marta Sanz Climent and lawyer Tomas Andres Costa Isabel and included, among others, lawyers Miriam Gimeno Casanova, Javier Máximo Juárez Olmos, Rocío melero Sánchez, Luis Sebastiá Rangel, Esther Mont and Pablo García-Olías Raimondo.