The agro-food group Borges, owned by the Pont family, has agreed to sell its agricultural business for between 70 and 80 million euros, as the company announced yesterday. 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 focused on the production 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 whole group.
Natural Capital Fund will assume the assets through its 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 all of its staff, and among others, will continue to provide services for the companies acquired by CAM, with whom it already collaborates in other their projects.
"The B2B (Business to Business) division of Borges nuts will focus on innovation as a growth engine, prioritizing the commercialization of new products and the integration of projects aimed at environmental sustainability", emphasized Borges. BAIN had a turnover of 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 (Urgell) and chaired by David Prats, brought in 771.67 million euros, 10% more than the previous year.
A year ago Borges announced a new stage of growth with which it 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 or optimize irrigation to reduce the consumption of a resource as scarce today as water.
