Frulact, born in 1987 on the outskirts of the Miranda family’s farm in Lavra, Matosinhos, developed into a multinational corporation with a dozen factories on three continents, which was sold a year and a half ago to the French company Ardian, which retained João Miranda’s leadership. group, with the entrepreneur passing from the CEO to the chairman.
Now, “after 35 years with Frulact, João Miranda is stepping down as chairman of the company,” the Maya group said in a statement sent to the newsroom on Monday 14 June.
“After this long and exciting journey since the founding of Frulact in 1987, I leave with a sense of accomplishment and with great pride, feeling as shareholders that we have left this project at a level of excellence and worldwide recognition. A level that can only make it happen. keep flying, ”says João Miranda.
“Today Frulact is an international company of Portuguese origin, innovative and ambitious. An example of this ambition is the recent acquisition of the Fruit Preparation business by the North American International Flavoring and Fragrance Group (IFF) less than a year ago. An operation that will accelerate the growth and value creation of the Frulact Group, ”stresses the same businessman.
“Now I will have more time and opportunities to accompany my family and be closer to my friends, and I will continue to believe in the future achievements of the group,” promises 56-year-old João Miranda, who says he leaves Frulact management “with confidence that the “group workers” will continue to work to ensure a brighter future for the company, “and that Ardian recognizes the” merit “of these” and honors the legacy of the Miranda family. “
“We are deeply grateful for the wonderful work of building, developing and consolidating that João Miranda has done over the past 35 years at Frulact. We will continue to work with a team of excellence on a sustainable growth strategy that brings Frulact together as a benchmark in the sector, respecting the legacy of its founders, ”emphasizes, for his part, Gonzalo Fernandez, Managing Director of Ardian Spain and advisor to Ardian France.
About a month ago, six months after acquiring its entire customer base from the American corporation Sensient Technologies, Frulact acquired the fruit-making business of the American Flavors & Fragances Group (IFF).
With this operation, Frulact merged production plants in Germany and Switzerland with its own factories in Portugal, France, Morocco, South Africa and Canada.
The Frulact Group, which ended 2019 with sales of 115 million euros, reached 120 million euros last year.
“Thanks to this acquisition, its turnover will reach 200 million euros, and the total number of employees will be 900 people, who will work on three continents. The group’s production capacity will increase by 35% and the number of employees by 25%, ”he said. Gonzalo Fernandez to the point.
What’s more, this purchase “will take the Frulact Group one step further in its quest to become a global leader in natural ingredient solutions. With this expansion, Frulact will become one of the three largest global companies in this business segment, ”he said. guaranteed ao Negócios of the same Ardian manager, a mega-fund that also controls the Ascendi motorway network in Portugal.
