Crest Fund Moves to Acquire Majority Stake in Algarve's Citrus Giant Frutas Lurdes
Jornal De Negócios7 months ago
1100

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

Business
crestagro
frutaslurdes
citrus
agriculture
investment
Share this content:

Summary:

  • Crest Agro I is acquiring a majority stake in Frutas Lurdes Mais.

  • Frutas Lurdes manages 400 hectares of citrus orchards in Algarve.

  • Founded in 1989, the company employs around 40 workers.

  • The acquisition will grant exclusive control over the company.

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.

Comments

0

Join Our Community

Sign up to share your thoughts, engage with others, and become part of our growing community.

No comments yet

Be the first to share your thoughts and start the conversation!

Newsletter

Subscribe our newsletter to receive our daily digested news

Join our newsletter and get the latest updates delivered straight to your inbox.

OR
PortugalToday.news logo

PortugalToday.news

Get PortugalToday.news on your phone!

Other Latest News

From Sesimbra to Costa da Caparica: Where to Snack Near Lisbon's Beaches

From Sesimbra to Costa da Caparica: Where to Snack Near Lisbon's Beaches

8 hours ago
910
Discover the Best Beachside Restaurants in Lisbon and Porto

Discover the Best Beachside Restaurants in Lisbon and Porto

6 hours ago
810
Massive Wildfire Engulfs Two-Thirds of Alandroal, Alentejo - Emergency Teams Battle Blaze

Massive Wildfire Engulfs Two-Thirds of Alandroal, Alentejo - Emergency Teams Battle Blaze

4 hours ago
940
Education Minister Slams Chega's Controversial Remarks on Foreign Students: "I Can Only Regret"

Education Minister Slams Chega's Controversial Remarks on Foreign Students: "I Can Only Regret"

2 hours ago
870
Lisbon Opens Applications for 135 Affordable Municipal Homes - Don't Miss Your Chance!

Lisbon Opens Applications for 135 Affordable Municipal Homes - Don't Miss Your Chance!

3 hours ago
930
From Book to Conversations: Debating a Lisbon for Everyone

From Book to Conversations: Debating a Lisbon for Everyone

13 hours ago
900
Lisbon to Get Special Security Plan, Says Mayor Carlos Moedas

Lisbon to Get Special Security Plan, Says Mayor Carlos Moedas

14 hours ago
1010
Lisbon's New Co-Living Space for Investors Amid Housing Crisis Sparks Outrage

Lisbon's New Co-Living Space for Investors Amid Housing Crisis Sparks Outrage

16 hours ago
990
Portugal's Deadly Heatwave and Europe's Fiery Crisis: A Climate Emergency Unfolds

Portugal's Deadly Heatwave and Europe's Fiery Crisis: A Climate Emergency Unfolds

1 hour ago
820
Lisbon's Bike Lanes: 11km at High or Extreme Risk, Study Reveals

Lisbon's Bike Lanes: 11km at High or Extreme Risk, Study Reveals

17 hours ago
880
Revolutionary App Maps Lisbon's Empty Homes Amid Housing Crisis

Revolutionary App Maps Lisbon's Empty Homes Amid Housing Crisis

18 hours ago
1050
Nationwide Corruption Probe Targets INEM and Universities Over PRR Fund Fraud

Nationwide Corruption Probe Targets INEM and Universities Over PRR Fund Fraud

20 hours ago
920
Inês Telles' Jewelry: A Blend of Nature and Geometry Shines in Lisbon's New Store

Inês Telles' Jewelry: A Blend of Nature and Geometry Shines in Lisbon's New Store

21 hours ago
900
Sócrates to Testify While Still Attempting to Halt Trial - A Legal Battle Continues

Sócrates to Testify While Still Attempting to Halt Trial - A Legal Battle Continues

1 day ago
840
Lisbon City Council Denies Neglect of Marvila, Highlights €124.5 Million Investment

Lisbon City Council Denies Neglect of Marvila, Highlights €124.5 Million Investment

1 day ago
970
José Sócrates' European Court Gambit to Halt Marquês Operation Trial Likely to Fail

José Sócrates' European Court Gambit to Halt Marquês Operation Trial Likely to Fail

1 day ago
920
André Ventura Sparks Debate Over Immigrant Children's Names in Portuguese Schools

André Ventura Sparks Debate Over Immigrant Children's Names in Portuguese Schools

23 hours ago
1090
Daring Escape: Two Inmates Flee High-Security Prison in Alcoentre Using Rope

Daring Escape: Two Inmates Flee High-Security Prison in Alcoentre Using Rope

1 day ago
950
Outrage as Chega Party Exposes Names of Immigrant Children in Parliament

Outrage as Chega Party Exposes Names of Immigrant Children in Parliament

1 day ago
1070
Middlesbrough FC Kicks Off Pre-Season Training Under the Portuguese Sun

Middlesbrough FC Kicks Off Pre-Season Training Under the Portuguese Sun

1 day ago
950