Chilean agribusiness Empresas Sutil reached a deal to acquire US-based Sunshine Raisin Corporation for an undisclosed sum, its first move to expand abroad.
Sunshine Raisin, which does business under the name National Raisin Company is one of the biggest processors of dried fruits in the US.
National Raisin and its suppliers will gain “a global market perspective” through the acquisition, said J. Kenneth Bedrosian, chairman of the Fowler, California-based company.
National Raisin’s CEO, Mark McCormick, said the company has been working with Sutil’s Pacific Nut Company division for more than a decade, adding that the move will help diversify its business in Asia and North America.
The deal is expected to close by the end of September.
Pacific Nut has been exporting premium dried fruits and nuts from Chile to world markets since 1992. Sutil also produces avocados, berries, nuts and wine in Chile through other units.