On March 15, the purchase of the Citrícola Salteña company was confirmed in a judicial auction carried out by Banco República, and the company Frutura Uruguay was established, which will consolidate and manage the acquired assets.
“Among the acquired assets, 3,000 hectares stand out with citrus plantations (mainly oranges, lemons and tangerines), 1 fruit packing plant for export and a citrus fruit processing plant for the production of high quality juices located in the city of Salto”, says a press release reached LARED21.
Frutura Uruguay will now ensure exports to its different clients in Europe, North and South America, as well as in the Middle East and Southeast Asia.
“This purchase represents a new milestone of growing importance in Latin America for Frutura Inc., which last year also acquired the Peruvian company Agrícola Don Ricardo (which processes table grapes, citrus fruits, avocados and blueberries), anticipating important synergies in the region with this new step. , thanks to its growing global network of clients and strategic partners,” the statement added.
Bankruptcy and new stage
The Citrícola Salteña company had filed for bankruptcy in 2019, and since then the Commercial Defense League had served as trustee ex officio.
On December 30, 2021, more than 150 former company employees filed a claim with the Salto Departmental Board for unpaid wages. Among other things, they demanded the corresponding payment of bonuses, licenses and liquidations of 2021 that by then had not been paid.
About ten days before, the president of BROU, Salvador Ferrer, had anticipated that the sale would be on March 15, 2022, as it happened. The assets were then valued at US$72 million. The bank offered at the time a credit to the buyer for up to 50% of the value of the purchase.
In the auction carried out by BROU, Frutura was the only bidder in the auction. Since the bankruptcy was covered by the bankruptcy law, the eventual buyer would not be responsible for the company’s labor, banking or any other type of liability at the time of sale.
