The Borges agri-food group, owned by the Pont family, has agreed to sell its agricultural business for a maximum of 80 million euros, as the company announced this Friday. The operation is articulated through the group's nuts unit, Borges Agricultural
Specifically, Borges will sell two Spanish companies, located in Extremadura and Granada, and four Portuguese companies, which concentrated their agricultural activity on the production, mainly, of almonds, walnuts and pistachios. The company has explained that with this move it wants to focus its efforts on the industrial and commercial areas "which are the core business of BAIN" and of the entire group.
Natural Capital Fund will assume the assets through its reference partner, Bolschare Agriculture, which will acquire the management of agricultural services. According to Borges, the Bolschare Group, a company with a presence in Spain and Portugal, will assume their entire workforce, and among others, will continue to provide services for the companies acquired by CAM, with whom it already collaborates on other projects.
"Borges' nuts B2B (Business to Business) division will focus on innovation as an engine of growth, prioritizing the commercialization of new products and the integration of projects aimed at environmental sustainability," the group has highlighted. BAIN invoiced 136.3 million euros in the 2022-2023 financial year (latest available) and lost 2.6 million euros. The group as a whole, based in Tàrrega and chaired by David Prats, earned 771.67 million euros, 10% more than the previous year.
A year ago Borges announced a new stage of growth with which he aspired to increase sales by 42% in five years and exceed one billion euros by then. With this objective, they planned to allocate 108 million until 2026 to increase the capacity of their plants, install photovoltaic infrastructure and implement circular economy mechanisms and technologies that optimize irrigation systems to reduce the consumption of a resource as scarce today as water. .
