The Indian group Freshara Agro Exports has acquired the Navarre-based company Aceitunas Sarasa, specialised in pickled products, following its voluntary bankruptcy filing at the beginning of September this year. The operation — valued at €7.7 million — marks the group’s entry into the Spanish market and represents an opportunity for consolidation and growth within Navarra’s agri-food sector.
The offer submitted by Freshara Agro Exports to the Commercial Court No. 2 of Pamplona includes Aceitunas Sarasa’s three production facilities, located in Andosilla, Cárcar (Navarra) and Almendralejo (Badajoz), as well as the subrogation of mortgage loans and the maintenance of 92 jobs.
Freshara Agro Exports, headquartered in Chennai (India), is a company dedicated to the production and export of gherkins and preserved foods, with a presence in more than 50 countries. The acquisition of Aceitunas Sarasa marks the group’s first establishment in Spain and expands its international footprint in the agri-food sector.
Aceitunas Sarasa, with a long-standing trajectory in the pickled products market, entered bankruptcy proceedings after recording losses despite growth in sales in recent years. Its acquisition by Freshara offers a valuable opportunity for continuity and development of the company and its production assets, strengthening the industrial agri-food fabric of Navarra.
This operation highlights the interest of international investors in strategic assets within the region, reinforcing Navarra’s position as an attractive destination for foreign investment in the industrial and agri-food sectors.
Source: Navarra Capital