Italy-based Orsero has reached an agreement with Grupo Fernández to acquire the remaining half of Spain's second-largest produce distributor, Hermanos Fernández López.

In July Orsero also finalized the purchase of Italian companies Fruttital Firenze and Galandi, whose 50% of shares it already owned.

Barcelona-head quartered Hermanos Fernández López is described as the second-largest national player for turnover and market shares in the fruit and vegetable distribution sector.

The company markets about 180.000 metric tons (MT) of produce annually through its three main distributive facilities (Madrid, Barcelona and Alicante), and its presence on seven wholesale markets with 33 sales stands. Turnover in 2016 was €181 million (US$211 million).

The company has been on the market since the 1960s and it has been led by Fernández Family which, as a result of the integration project, will become the second major shareholder of Orsero behind FIF Holding.

Orsero said this was a testament to its strength, having listed on the AIM Italia stock market in February 2017.

Florence-based Fruttital Firenze and Galandi distribute fresh fruit and vegetables throughout Italy.

The two companies overall handle about 49,000MT annually through a logistic platform in Tuscany, with a total turnover of about €70 million (US$82 million) in 2016.

Galandi, which has been operating for 70 years on the Tuscan market, is mainly focused on traditional retailers’ sector and on the marketing of fresh vegetables.

Fruttital Firenze, on the other hand, is more specialized in marketing to supermarkets and its sales volumes are concentrated in fresh fruit and fresh-cut fruit.

“These acquisitions reinforce our leadership in the South European market,” Orsero vice president and CEO Raffaella Orsero said.

“We firmly believe in the continuity of the management for both the entities which over the years has made these companies strong and strategic in the corresponding relevant markets.

"These companies will continue to be for us a valid commercial support and a real value added to the growth.”

The Orsero Group is a leading fruit and vegetable distributor in Mediterranean Europe, handling around 550,000MT of produce annually.

It has more than 2,000 employees around the world (including more than 1,000 in Europe) who work at the 160,000 square meters of facilities located in Italy, France, Spain, Portugal, Greece, Costa Rica, Colombia and Mexico.

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