Spanish fresh produce marketer CMR Group has announced that it has completed its takeover of Canary Islands-based banana distribution company Tomás Valentín Pastor.
Under the agreement reached, CMR has now taken over control and management of Tomás Valentín’s assets, including the company’s facilities at Mercamadrid, Mercaleón, Torrejón and La Palma in the Canaries.
CMR launched its bid for Tomás Valentín through its Madrid-based subsidiary CMR Infinita earlier this year and CMR Group marketing manager Carlos Molina said the successful takeover would allow the company to expand geographically and increase its product range.
In a statement, Mr Molina said that Tomás Valentín Pastor had been marketing Canary Island bananas from the island of La Palma for several years, achieving considerable prestige thanks to the quality of its produce and its innovative presentation of the products for wholesale.
“Following the takeover, CMR has pledged to build on these solid foundations, and to this end has absorbed the Tomás Valentín management and sales team into the group structure, from where they will continue with their normal duties,” he said.
Mr Molina said the acquisition would increase CMR’s presence in Spain, building on work of parent company Fruits CMR in Barcelona and CMR Infinita in Madrid and Mercaleón.
“The operation also effectively increases the CMR product portfolio, adding bananas to the already extensive range of goods marketed by the different companies in the group,” he added.
