Deal creates second largest berry company in the world
Global berry grower-marketer Agroberries has acquired BerryWorld Group, Europe’s largest berry marketer.
The deal, which follows last year’s acquisition by Agroberries of a minority stake in BerryWorld’s Europe, Middle East & African and Asia-Pacific businesses, creates the second largest berry company in the world, with an annual output of 150,000 tonnes, over 3,000ha of own production and associated growers in 30 countries.
The vertically integrated company owns unique proprietary breeding programmes and long-term partnerships with leading breeders around the world to sustainably produce high quality berries. It will leverage its fully owned, best-in-class marketing platforms and distribution facilities located near key production and sourcing areas and near end-markets to ensure the highest quality, traceability and service levels to its clients.
Jorge Varela, co-founder and CEO of Agroberries, will serve as global CEO of the combined entity. BerryWorld’s co-founder and CEO Adam Olins will continue to lead BerryWorld.
Varela commented: “This transaction is a transformational milestone in our 58 years of combined history. It will enhance our capabilities, allowing our customers year-round access to more proprietary berry varieties, giving our growers access to new end-markets, and creating a platform for further organic and inorganic growth”.
Olins added: “The BerryWorld Group team is ready to take the next step and we found the ideal partners in Agroberries. After working together for some time, I have the conviction that our organizations are united by shared values, a strong culture, a passion for growing and delivering top quality berries, and a dedication to sustainability. Together we will continue to set new standards for excellence in the berry industry”.
Continental Grain Company (Conti), Agroberries’s biggest investor, has increased its investment and commitment to the company in connection with this transaction. As a long-term partner, Conti said it would continue to use its international network and operating expertise to support the strategic development and expansion of the combined business.
Carlos Poblete, co-head of Conti Direct Investments, commented: “Based on its diverse production base and strong marketing platforms, underpinned by some of the best fruit genetics in the world, the combined platform will continue innovating and delivering the highest quality berries to retailers and consumers around the world”.
Just prior to the deal being announced, it was revealed that Mastronardi Produce, one of North America’s leading marketers of greenhouse-grown fruit and vegetables, had taken full and exclusive ownership of Mastronardi BerryWorld America, its joint venture with BerryWorld.
