Atitlan has completed the process to become majority shareholder of Ecosac, a Peruvian company specializing in the cultivation of grapes and peppers for canning. With this operation, carried out through a capital increase for approximately 100 million dollars, the Spanish group founded by Roberto Centeno and Aritza Rodero has made its first investment in Latin America.
Ecosac has an annual turnover of more than 200 million dollars and is the second-largest exporter of grapes in Peru, a leading country for this crop, with annual sales totalling 500 million tons. The Peruvian company, owned by the local business group Costa del Sol, has 2,500 hectares in production and a further 2,500 hectares that will also be planted over the next few years.
Ecosac's agricultural assets are located in the Piura region, in the north of the country. It has more than 6,000 workers, although in high season it employs more than 15,000 people. It owns three production plants and exports to more than 40 countries.
This operation will allow Atitlan to internationalize its agricultural project, which had so far been focused only on Spain, Portugal and Morocco. In this way, in addition to expanding its crop typology, based on super fruits and super nuts (such as pistachio), it will have production all year round and will expand its customer base and work in more countries.
Atitlan will develop its strategy in two phases. The first one will be aimed at putting Ecosac's balance sheet (commitments with banks and suppliers) in order, while the second one includes an investment plan to put the 5,000 hectares into production. The goal is to allow the company to consolidate its position and to become the leading grape producer in the region.
This first operation in South America demonstrates Atitlan's commitment to prioritizing its investment policy in this region over the coming years. They are convinced of the potential to build an agricultural platform specializing in superfoods.
For Ecosac, Atitlan's entry represents a "strategic milestone" which will allow it to normalize its operations and boost its growth. "It is one of the most active business groups in the Iberian Peninsula, providing growth, sustainability and innovation in different industries."
For Atitlan, "our investment in Ecosac is our first operation in Latin America, and it will allow us to follow our growth plan's super nuts and super fruits strategy. It will also allow us to commercially diversify our markets and gain presence in Asia, the U.S. and Latin America."
For more information:
Atitlan
C/ Don Juan de Austria 30, 3.
46002, Valencia, Spain
Tel.: +34 963 53 63 14
www.atitlan.es