Global law firm White & Case LLP has advised The Carlyle Group on its investment through its Credit Opportunities Fund in the Unifrutti Group, a leading international fresh produce distributor.
"We have helped long-standing client The Carlyle Group navigate this further investment in Unifrutti to support the acquisition of Oranfrizer," said White & Case partner Ken Barry, who led the Firm's deal team. "This transaction strengthens The Carlyle Group's partnership with Unifrutti as the two groups look to explore future growth opportunities."
The investment is comprised of an equity injection and bond purchase of Unifrutti's existing senior secured notes due 2026. The capital has been used to fund Unifrutti's 92 percent acquisition of Oranfrizer, Italy's main producer of blood oranges.
Unifrutti is a global distributor of fresh fruit and produce, with operations spanning across Europe, Asia, South America and Africa. Founded in 1948 by the De Nadai family, Unifrutti exports over 50 million cartons annually to major retailers including Costco, Walmart and Waitrose. Oranfrizer supplies markets worldwide, including Japan, China, the United States and the European Union.
Carlyle's Credit Opportunities Fund is a US$2.4 billion fund that invests in directly originated private capital solutions primarily for upper middle market borrowers, including non-private equity sponsored, family or entrepreneur-owned companies. The transaction brings Carlyle's total investment in Unifrutti to €175 million.
The White & Case team in London which advised on the transaction was led by partner Ken Barry and included partners James Greene, Kevin Ng and Heather Rees, counsel Thomas Cambidge and associates Will Summers, Lowrie Robertson, Michael Byrd, James Read and William Liu.
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