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

Survey Reveals: Majority of Portuguese Oppose Apologies to Former Colonies

Survey Reveals: Majority of Portuguese Oppose Apologies to Former Colonies

41 minutes ago
880
Madeira Airport Chaos: 40 Flights Cancelled in a Single Day Due to Strong Winds

Madeira Airport Chaos: 40 Flights Cancelled in a Single Day Due to Strong Winds

9 hours ago
870
Faro's Local Accommodation Regulation Under Public Consultation: What Changes Are Coming?

Faro's Local Accommodation Regulation Under Public Consultation: What Changes Are Coming?

11 hours ago
930
TAP Flight to Brazil Makes Emergency Return to Lisbon After Pilot Falls Ill

TAP Flight to Brazil Makes Emergency Return to Lisbon After Pilot Falls Ill

8 hours ago
850
Lisbon's Best-Kept Culinary Secret Lies Inside a Swimming Pool

Lisbon's Best-Kept Culinary Secret Lies Inside a Swimming Pool

10 hours ago
890
Driver Flees Scene After Overturning Car in Marquês Tunnel, Lisbon - Traffic Disrupted

Driver Flees Scene After Overturning Car in Marquês Tunnel, Lisbon - Traffic Disrupted

13 hours ago
970
Fieldfisher Expands into Portugal with New Offices in Lisbon and Porto

Fieldfisher Expands into Portugal with New Offices in Lisbon and Porto

15 hours ago
940
José Sócrates Accuses Portuguese State of Manipulating Justice in Marquês Operation

José Sócrates Accuses Portuguese State of Manipulating Justice in Marquês Operation

17 hours ago
890
Portugal Rises Firefighting to Delta Level Amidst Helicopter Maintenance Challenges

Portugal Rises Firefighting to Delta Level Amidst Helicopter Maintenance Challenges

18 hours ago
980
Shocking Assault in Portalegre Hospital: 19-Year-Old Patient Attacked in Psychiatric Ward

Shocking Assault in Portalegre Hospital: 19-Year-Old Patient Attacked in Psychiatric Ward

19 hours ago
920
Portugal's Emergency Medical Services Boosted with Four Air Force Helicopters Amid Concerns

Portugal's Emergency Medical Services Boosted with Four Air Force Helicopters Amid Concerns

20 hours ago
860
Lisbon and Amadora Hit by Dangerous Ozone Levels as Heatwave Continues

Lisbon and Amadora Hit by Dangerous Ozone Levels as Heatwave Continues

16 hours ago
1000
Portugal's Water Reserves: High Levels Nationwide Except Algarve Still Battles Drought

Portugal's Water Reserves: High Levels Nationwide Except Algarve Still Battles Drought

23 hours ago
1000
Extremist Groups Pour Millions into Portuguese Anti-Abortion and Anti-LGBTQI+ Campaigns

Extremist Groups Pour Millions into Portuguese Anti-Abortion and Anti-LGBTQI+ Campaigns

22 hours ago
960
Political Clash in Lisbon: Chega Candidate and Rita Matias' Father Exchange Heated Words Over Mosque Proposal

Political Clash in Lisbon: Chega Candidate and Rita Matias' Father Exchange Heated Words Over Mosque Proposal

1 day ago
950
Rare Roll Clouds and Freak Showers Stun Portugal Amidst Scorching Heatwave

Rare Roll Clouds and Freak Showers Stun Portugal Amidst Scorching Heatwave

1 day ago
990
Discover the Algarve's Hidden Paradise: Barra Nova Beach, a Tranquil Escape Even in August

Discover the Algarve's Hidden Paradise: Barra Nova Beach, a Tranquil Escape Even in August

1 day ago
970
Algarve's CCDR Achieves Stunning 42.3% Energy Savings in 2024 with Solar Power

Algarve's CCDR Achieves Stunning 42.3% Energy Savings in 2024 with Solar Power

1 day ago
970
Discover Comporta: Portugal's Hidden Gem That's Europe's Answer to the Hamptons

Discover Comporta: Portugal's Hidden Gem That's Europe's Answer to the Hamptons

1 day ago
880
Faro Municipality Boosts Animal Welfare with Financial Support to Local Associations

Faro Municipality Boosts Animal Welfare with Financial Support to Local Associations

1 day ago
990