Chile’s fruit exporter Subsole, has signed an agreement to sell to Frutura, a sales and marketing network formed in 2021 with the acquisition of Agrícola Don Ricardo (Peru), Dayka & Hackett and TerraFresh Organics (US) and the addition of Frutura Uruguay in March 2022.
Subsole is a Chilean exporter of table grapes to the US, Europe and Asia. Other offerings include citrus, kiwis, avocados, cherries, pomegranates and to date, the company has shipped 10 million boxes of fruit to customers in more than 40 countries. Subsole management credits its employee’s focus on getting things done with innovation and sustainability along every step of the production supply chain, with its longevity.
“Having a strong presence in Chile is integral to our growth strategy so we’re delighted Subsole is now part of our portfolio,” said David Krause, Frutura’s CEO. “Chile’s a mature player in LATAM and the global marketplace respects the country’s well-earned reputation for high-quality fruit.”
“We’re excited about the ways we can add value to Subsole’s table grape business as they lean into superior, proprietary varietals,” adds Krause. “And the demand for cherries, particularly from China, makes that a crop of significant potential that we intend to accelerate.”
At the heart of Subsole’s culture is a sense that, despite its growth, the company remains a family of farmers. The architect of this focus-on-farmers and profound respect for the workers of the company is Subsole co-founder Miguel Allamand, who will become a shareholder in Frutura, as well as serve as chairman emeritus to the new company.
“Becoming part of Frutura will allow Subsole to reshape, in a profound way, how we supply and run our business,” said Subsole CEO Juan Colombo, who continues to lead the company. “It will allow us to generate new synergies and new opportunities as we recalibrate our business environment.”
“The fact that we already know and have even partnered with, many of the individuals associated with Frutura and its companies, made this a very comfortable climate for discussion,” added Colombo. “We’re impressed by Frutura’s disciplined approach to the business and I’m convinced being a part of their team will add immediate value to our operations.”
Subsole’s commitment to the principles of ESG, foundational to Frutura’s brand, is another reason this acquisition is a good fit. Since its inception, Subsole has sought to ensure that its policies and processes respect the environment, particularly in the areas of social responsibility, effective soil management, water awareness and energy usage. Subsole was the first agricultural operation in Chile to design and install a photovoltaic power plant in Copiapó, making the energy captured clean and renewable. This process was expanded with additional installations in both northern and southern regions.
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