Special NewFruit Licensing (SNFL), the company developing new grape varieties of the Murcian titan AM Fresh, has unified the two companies with which it operated to streamline processes and facilitate management.
The production unit, which was concentrated in Special NewFruit Licensing Mediterráneo SLU, a company founded in 2002 with a share capital of 6 million euro, has been absorbed by Special NewFruit Licensing Holding Company SL.
This firm was founded in 2019 to be the administrator of the main company, a function that it fulfilled until February 28, when the dissolution of this company was formalized to leave this society that fulfilled the functions of holding, as stated in the Official Gazette of the Commercial Registry (BORME), in charge.
Thus, all the assets of the absorbed company are transferred en bloc to the acquiring company. Likewise, the absorbed company is dissolved without liquidation, which is equivalent to its extinction.
The Murcia-based company achieved a turnover of nearly 5 million euro in 2021, a very similar result to the one achieved in the previous year. That year the profit amounted to 2.1 million euro, which shows the high added value that its activity has.
Integration with IFG
SNFL, which is already one of the most important table grape variety development companies in the world, will soon make the definitive leap to lead the sector when it merges with the Californian IFG, which will result in a 'super' genetic innovation company.
The American company was acquired at the beginning of March by AM Fresh, the parent company of SNFL, for 1,6000 million euro with the intention of combining them, including their procedures, professionals, and varieties developed, to become the leading company in the sector and meet the growing demand for sustainable and efficient products. In short, to create a "world-leading" company that makes a difference in the market, as SNFL indicated at the time.
SNFL will bring its variants with antioxidant genes and disease resistance and mix them with the 'unique flavor' of IFG's grapes. This will set the stage to create the optimal variant. The operation was announced more than a year ago but the merger hasn't occurred yet and these companies still operate independently.
Source: murciaplaza.com