Fruit-and-veg major Orsero enters US

Orsero, the Italy-based fruit and vegetable supplier, has expanded into the US with an investment in import business Trucco.

In a stock exchange filing, the Milan-listed group said it acquired a 45% stake in Trucco Holdings, which owns New Jersey-based Trucco Inc. and TruFresh Logistics.

Orsero also retains an option to acquire another 15% in Trucco Holdings from 2029 onwards.

Additionally, it has struck a deal to purchase 46% of the affiliated business AJ Trucco Inc, pending regulatory approvals. This transaction is expected to be completed before the end of the year.

The total consideration is $46m, with the investment to be made on a "debt-free / cash-free basis", the filing added.

The Trucco Group includes three operating companies: AJ Trucco Inc., Trucco Inc. and TruFresh Logistics LLC, the two latter controlled by Trucco Holdings Inc..

AJ Trucco Inc. markets fresh produce to retailers through a sales stand located within the Hunts Point Produce Market in the Bronx.

Trucco Inc. is headquartered in Vineland in New Jersey, operating out ofan 18,000-square-metre warehouse.

TruFresh provides processing, packaging and logistics to Trucco and third-party customers and is als

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/fruit-veg-major-orsero-enters-131219191.html)