Frulact Group to sell controlling stake in Algerian JV
Portuguese fruit preparations firm Frulact Group has agree to sell its 51% controlling stake in its Algerian joint venture, withdrawing from unit in July.
The joint venture was set up in 2007, but the company said selling its stake would allow it to strengthen its position in North Africa and the Middle East by focusing its resources instead on its Moroccan units.
Frulact said it would continue to work with its customers in the Algerian market “ensuring the main objective to establish long-term partnerships with its customers, on a sustainable basis”.
Frulact supplies several major global players and brands, especially in the dairy, ice cream, beverage and pastry industries.
