Crest Fund Moves to Acquire Majority Stake in Algarve's Citrus Giant Frutas Lurdes

Crest Fund's Ambitious Acquisition

Crest Agro I, a venture capital fund managed by Crest Capital Partners, is set to proceed with the majority acquisition of Frutas Lurdes Mais, a company dedicated to citrus farming in the Algarve region.

According to a notice released this Wednesday by the Competition Authority (AdC), the regulator was informed about the concentration operation on November 21, which involves the fund gaining exclusive control over Frutas Lurdes Mais, whose sole activity is its stake in Frutas Lurdes.

Founded in 1989 as Frutas Bernardino, Frutas Lurdes manages approximately 400 hectares of citrus orchards (including oranges, tangerines, lemons, and limes) primarily located in Silves, where its headquarters are situated. The company employs around 40 permanent workers.

Their operations encompass all phases of production, from harvesting to transportation, selection, washing, packaging, and subsequent wholesale distribution.