Agrícola Famosa and El Abuelo Join Forces to Become Europe’s Largest Supplier of Melons and Watermelons
Agrícola Famosa, Brazil’s leading fruit exporter, has acquired Spanish company El Abuelo, a key player in the melon and watermelon markets. Although the transaction value was not disclosed, the merger creates the largest supplier of these fruits to Europe, with a combined revenue of R$ 1.4 billion (€230 million) based on 2023 figures.
“Our goal is to supply melons and watermelons to Europe, our main market, year-round,” said Carlo Porro, CEO of Agrícola Famosa, in an interview with Valor. “This acquisition is part of a broader plan, and more acquisitions are on our radar.”
Expanding Seasonal Supply and Operations
Brazil’s production of melons and watermelons occurs from August to February, leaving a supply gap that Central America and Senegal fill between March and May, and Spain covers from June to August.
With the acquisition of El Abuelo, which operates in Spain and Senegal, Agrícola Famosa secures year-round supply for its European clients. El Abuelo sources melons and watermelons locally in Spain and has 350 hectares planted in Senegal.
Production Growth and Market Reach
Agrícola Famosa’s production, which reached 270,000 tons in 2023, will increase to 350,000 tons annually. This expansion also brings access to a broader range of fruit varieties.
“The companies will retain their brands and management teams,” Porro emphasized.
El Abuelo, founded in 1928 in Murcia, Spain, has a strong legacy as a family business specializing in melon cultivation, later diversifying into watermelons.
“This partnership marks a milestone for El Abuelo’s growth,” said Celedonio Buendía, the company’s managing director. “We will expand into new markets while maintaining the quality and reputation that have defined us for generations.”
A Shared Vision for Growth
Agrícola Famosa’s history mirrors El Abuelo’s legacy. Founded 30 years ago in Ceará, Brazil, the company started with just 3 hectares and 22 employees. Today, based in Mossoró, Rio Grande do Norte, it employs over 8,000 workers and manages 30,000 hectares, of which 10,000 are under cultivation.
In 2023, Agrícola Famosa reported a net revenue of R$ 1.07 billion, with its UK subsidiary, Melon&Co, contributing £50 million. Established in 2021, Melon&Co was created to strengthen ties with British supermarkets.
Backed by Strategic Investments
In 2021, Agrícola Famosa gained a minority shareholder, Spanish group Citri&Co, which is controlled by investment firm Miura Partners. Citri&Co, a major player in the European fruit market, has also expanded aggressively. In 2019, it acquired Frutas Esther, another Murcia-based group, and reported revenues of €591 million in 2022 and €91 million in 2023.
This partnership between Agrícola Famosa and El Abuelo solidifies their position as leaders in the melon and watermelon markets, ensuring a reliable supply chain and broader market presence in Europe and beyond.
