AGRANA Acquires Stake in Algerian Fruit Preparations Producer
The fruit, starch and sugar group AGRANA has extended its presence in the African market by acquiring 49% of the shares in Elafruits, an Algerian producer of fruit preparations. Located in Akbou, around 200 km east of Algiers, this company with a workforce of around 100 employees generated revenues of approximately €7 million in its 2017 financial year. As the global leader in fruit preparations, AGRANA now operates 29 production sites in 21 countries.
Besides producing standard fruit preparations for yoghurts and ice creams, Elafruits also makes fruit purées and bases for the beverage industry. Algeria is a strategically important market for AGRANA and has the highest per capita consumption of fruit preparations for yoghurts in the region.
“This acquisition is another move to consolidate our leading global position in fruit preparations. The existing product portfolio and the option of expanding our production capacity close to major customers will accelerate AGRANA’s growth in North Africa,” explains AGRANA CEO Johann Marihart.
