Citrus giant Citri&Co, created in 2017 from the merger between Martinavarro and Río Tinto, might be changing owners. Miura Partners, the private equity fund that holds the majority of the shares, is considering the sale for an amount of nearly 1,000 million euros, according to information from Cinco Días. The citrus conglomerate, headquartered in Castellón, recently reorganized its operations at the Greenmed's packing station in Almassora. Now only fruit will be cooled there. Processing and packaging will be carried out in other facilities in the provinces of Valencia and Huelva. As a result of this change, approximately 150 employees were let go.
The sale process has reportedly been entrusted to Lazard, a recognized financial advisor and asset manager. Miura Partners, however, has denied this. It would not be the first time that rumors have circulated about the sale of Citri&Co. Something similar happened in the autumn of last year, when there was a rumor that the company would be sold for 1,500 million euros; a rumor that was also denied by Miura Citri&Co generates more than €800 million in revenue a year and processes more than 850,000 tons of fruit, which it distributes in approximately 40 countries.
Source: elperiodicomediterraneo.com