This is the Atitlan Group's first operation in Latin America with a project that includes 5,000 hectares for production.
The Spanish company Atitlan has completed its entry as a majority shareholder in Ecosac, a Peruvian company specializing in the cultivation of grapes and peppers for preservation. With this operation, carried out through a capital increase and for an approximate amount of US$ 100 million, the Spanish group founded by Roberto Centeno and Aritza Rodero makes its first investment in South America, according to a statement.
Ecosac has an annual turnover of more than 200 million and is the second largest exporter of grapes in Peru, a leading country in this crop, with an annual foreign sales volume of 500 million tons.
The Peruvian company, owned by the local business group Costa del Sol, has 2,500 hectares in production and a reserve of another 2,500, which will be exploited over the next few years.
Ecosac's agricultural assets are located in the Piura region, in the north of the country. It employs more than 6,000 workers, although in high season it hires more than 15,000. It has three production plants and exports to more than 40 countries.
This operation allows Atitlan to internationalize its agricultural project, which until now had been focused only on Spain, Portugal and Morocco.
In this way, in addition to expanding the typology of crops, based on super fruits and super nuts (such as pistachios), it will have production during all seasons of the year and will expand its customer base and geographical areas, the company explained.
Atitlan will develop its strategy in two phases. The first will be aimed at balancing Ecosac's balance sheet (commitments to banks and suppliers), while the second includes an investment plan to put the 5,000 hectares into production. The objective is to consolidate the company and become the leading grape producer in the region.
"This first operation in South America demonstrates Atitlan's commitment to prioritising its investment policy in this region over the coming years, convinced of the opportunities it offers to build an agricultural platform specialising in 'super foods'," he added.
For Ecosac, the entry of Atitlan represents a "strategic milestone" as it will allow it to "normalize its operations and boost its growth."
"It is one of the most active business groups in the Iberian Peninsula, contributing to growth, sustainability and innovation in different industries," he said.
Atitlan stresses that the commitment to Ecosac "represents our first operation in Latam and continues the strategy of super nuts and super fruits that we have in our growth plan. In addition, it also allows us to commercially diversify our markets, with a presence in Asia, the US and Latam."
