Born in 1987 in the back of the Miranda family’s farm in Lavra, Matosinhos, Frulact has become a multinational company with dozens of factories on three continents, having been sold a year and a half ago to French Ardian, who kept João Miranda in command of the group, with a pioneering transition Business from CEO to Chairman.
Now, “After 35 years of association with Frulact, João Miranda is leaving the position of Chairman of the Board of Directors,” the Maia-based group has just announced, in a statement sent to newsrooms, on Monday, June 14.
“After such a long and exciting journey since founding Frulact, in 1987, I leave feeling accomplished, and with immense pride, feeling, as contributors, that we have left this project at a level of distinction and appreciation for a world class, which can only make it continue to fly,” he says. Joao Miranda.
“Today, Frulact is an international company, of Portuguese origin, innovative and ambitious. An example of this ambition is the recent acquisition of the North American International Flavors and Fragrances (IFF) group’s fruit-preparation business, which took place in less than a year ago. A process that will Accelerate the growth and value creation of the Frulact Group, ”as the entrepreneur himself emphasizes.
“I will now have more time and availability to accompany my family and be closer to my friends, and I will continue to rock with the group’s future accomplishments,” promises Joao Miranda, 56, who says he will leave Frulact’s leadership “with the certainty that the group’s workers will continue to operate.” To ensure a bright future for the company,” and that Ardian will “recognize their merit” and honor the legacy of the Miranda family.”
“We are very grateful for the remarkable work of innovation, development and integration that Joao Miranda has developed over the past 35 years at Frulact. We will continue to work with a team of excellence on a sustainable growth strategy that strengthens Frulact as a reference in the sector, respecting the legacy of its founders,” emphasizes, for his part , Gonzalo Fernandez, “Director of Management” at Ardian Spain and Adviser to Ardian France.
About a month ago, half a year after acquiring the full customer base from US-based Sensient Technologies Corporation, Frulact acquired the fruit preparation business of US-based Flavors & Fragances Group (IFF).
Through this process, Frulact has joined production units in Germany and Switzerland with its own factories in Portugal, France, Morocco, South Africa and Canada.
The Frulact Group, which closed 2019 with sales of 115 million euros, reached 120 million euros last year.
“With this acquisition, its turnover will reach 200 million euros and a total of 900 employees with a presence on three continents. The Group’s production capacity will increase by 35% and the number of employees will grow by 25%,” he said. Gonzalo Fernandez to work.
Furthermore, this acquisition “will allow the Frulact Group to take another step in its ambition to become the world leader in natural ingredient solutions. With this expansion, Frulact will be one of the world’s three largest in this business sector”, within ao Negócios the same Ardian Director , the huge fund that also controls the Ascendi motorway network in Portugal.