Kent-based Fourayes, the UK’s largest grower and processor of fruit, has been sold to Belgian multinational Puratos.
The acquisition of Fourayes, known for its production and supply of fruit, pie fillings, industrial jams and mincemeats, expands Puratos’ reach in the European market.
Fourayes is set to benefit for being part of a multinational company, with representation in 100 countries globally and a turnover of €2 billion.
Julia Darvill, managing director of Puratos, said the firm would continue Fourayes' "proud legacy supporting British farming".
"Our relationship with Fourayes first took root back in February, when we partnered to launch a unique range of real fruit and vegetable pieces, and in the succeeding months our connection has grown even deeper.
“We found Fourayes to be an ideal fit for Puratos, both being family-run, customer-focused, heritage-rich businesses with innovation, people and traceability at their core.
"We are committed to upholding and building on Fourayes’ reputation as a first-class farm and factory and look forward to a fruitful future.”
Phil Acock, managing director of Fourayes, said both companies had "aligned their goals".
“We believe that together we are stronger, and the bringing together of these two ingredient powerhouses has untold potential.
"I am confident the synergies between Puratos and Fourayes will unlock further growth and value for our customers and help them to cater to the call for healthy options, transparency and integrity from increasingly conscientious consumers.”
MHA Corporate Finance (MHA), a UK accountancy and corporate financial advisory firm, announced its role as broker for the sale.
Mark Lumsdon-Taylor, partner at MHA, said the sale was one of the largest of a business in the Kent fruit sector.
“I have been privileged to work with Phil Acock and Fourayes’ dedicated and hard-working staff to finalise the deal with Puratos," he added.
"He opportunity to create a world-leading manufacturer of fruit fillings, bakery and English Bramley apple products is fantastic."