Frutura closes on Subsole acquisition 

Reedley, Calif.-based Frutura has marked its first year of operation by finalizing the acquisition of the major Chilean fruit exporter, Subsole. 

The acquisition opens the door to significant new investment, signaling Frutura’s confidence in Subsole’s growth potential and in the strength of its leadership, according to a news release.

Frutura is focused on adding acreage to Subsole’s existing footprint, according to the release. Negotiations to acquire additional operations are close to being signed, which will substantially increase Subsole’s export volume as a start, particularly with avocados and citrus.

Subsole’s new land will be in multiple Chilean geographies and in different growing zones, according to the release, which will further diversify the company’s supply base and will give Subsole even greater flexibility to pack and sell. 

“There are many reasons why Frutura is bullish on Subsole,”  Frutura CEO David Krause said in the release. “But they all begin with our faith in their CEO Juan Colombo, and in his team. Juan is that rare, natural-born leader who has built an extraordinarily capable and committed senior team. There is deep bench strength at every level at Subsole and our confidence in this brand cannot be overstated.” 

Subsole already dominates in table grapes and is the largest Chilean exporter of that crop to the U.S., Europe, Latin America and Asia, the release said. 

Other offerings include citrus, avocados, cherries, pomegranates and kiwis. To date, the company has shipped 10 million boxes of fruit to customers in more than 40 countries.

“This has been an incredibly challenging year in Chile for fresh produce exports, with a logistics meltdown leading to escalating costs throughout the chain,” Colombo said in the release. “Our team, from senior leaders to our colleagues in the fields, has worked incredibly hard. Because of their efforts, Subsole now finds itself in an enviably solid position on which to build.”  

Subsole’s long-held commitment to the principles of environmental, social and governance, foundational to Frutura’s brand, is another reason the company is a good fit with Frutura, the release said.

 Subsole was the first agricultural operation in Chile to design and install a photovoltaic power plant in Copiapó, making the energy captured clean and renewable. This process was expanded with additional installations in both northern and southern regions, according to the release.