Agrana buys 49% stake in Algerian company Elafruits

Austrian food company Agrana has acquired a 49% stake in Algeria-based fruit preparations producer Elafruits for an undisclosed sum.

The acquisition is expected to enable Agrana to expand its presence in the African market.

Elafruits is located in Akbou, roughly 200km east of Algiers, and generated revenues of about €7m in the last financial year.

The company offers standard fruit preparations for yoghurts and ice creams, as well as being engaged in the production of fruit purées and bases for the beverage industry.

Algeria is a strategically important market for Agrana and currently has the highest per capita consumption of fruit preparations for yoghurts in the region.

The company now operates 29 production sites across 21 countries following its acquisition of a significant stake in Elafruits.

Agrana CEO Johann Marihart said: “This acquisition is another move to consolidate our leading global position in fruit preparations.

“The existing product portfolio and the option of expanding our production capacity close to major customers will accelerate Agrana’s growth in North Africa.”

Fruit preparation companies are primarily engaged in puréeing or dicing top-quality fruits for use in the dairy products or ice cream and bakery products industries.

In addition to the food processing industry, Agrana supplies its fruit preparations to fast-food companies and food service providers.

The company was founded in 1988 and also produces sugar in Central and Eastern Europe. It is considered one of the key producers in the starch segment.

Agrana is also one of the major producers of fruit juice concentrates in Europe.