A new European citrus collaboration called Citri&Co has been set up, creating the continent’s largest conventional and organic citrus group.
Martinavarro and Rio Tinto have joined forces to establish the new group.
The transaction is described as a “strategic development” of the project which was initially started with private equity firm Miura’s investment in Martinavarro last July.
Originally founded in 1946 by the Martinavarro and Ballester families, the citrus traders recently signed an agreement with the Garavilla family and Rio Tinto team.
Both companies will continue to operate independently.
“Citri&Co plans to enter into new markets and expand its product portfolio, to continue to work to diversify its supply from both the Northern and Southern Hemisphere and to ensure a quality product offering to its customers throughout the year,” says a statement.
“Citri&Co aims to be the best world leader citrus supplier building on its 500,000 tonnes of citrus, six packing houses, 8,000 hectares and sales of 325 million euros.”