Vegetables & Fruits

Greenyard Inks Deal to Sell Logistics Operation in Portugal

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Sint-Katelijne-Waver, Belgium-headquartered Greenyard has signed an agreement for the divestment of Greenyard Logistics Portugal through a management buyout. The Riachos-based company has been engaged in the food products transport and logistics market in Iberia since 2001, with a strong focus on fruits, vegetables and other perishable items.

After completion of the transaction, Greenyard Logistics Portugal will be owned and operated by its current management team, headed by CEO Vitor Figueiredo and COO Manuel Rodriguez. Vallis Capital Partners, an independent holding company focused on private equity and investment funds, will support the business.

Figueiredo played an important role in realizing the sale and aims to maintain the current sustainable relationship with customers and suppliers while further developing the company. The deal is subject to the customary approvals and regulatory requirements, which will likely take several months.

“Our relationship with Vitor Figueiredo and his management team has been very valuable,” said Hein Deprez, co-chief executive officer of Greenyard. “However, the synergies have diminished as Greenyard is further concentrating on its core business in other countries. We will part ways with great appreciation of our partnership, and we believe that Greenyard Logistics Portugal will continue to be a key logistics provider in Portugal, offering logistics operations in a multi-client model.”

“We are confident that the independence and flexibility will enable us to continue to serve and delight both current and new customers, and we look forward to the future of the company with the utmost confidence,” said Figueiredo.