Driscoll's of Europe has announced today (10 November) that its board of directors has approved the acquisition of the non-farming assets of Alconeras, as well as its 20 per cent interest in Driscoll's of Europe.
According to the group, the four components that will be gained through the merger will be Alconeras Spain, Alconeras Nursery in Spain, Alconeras Morocco, and Alconeras' 20 per cent equity interest in Driscoll's of Europe.
The announcement comes after an internal due dilligence team spent several months evaluating the merger, before receiving final approval from the board of directors on 22 September this year, with the deal set to be completed around 1 January 2011.
After the merger, Driscoll's of Europe will lead the whole commercialisation in Europe and the UK, including the activities of Berryport in Portugal, while the head of office of the organisation will be in Breda, the Netherlands, headed up by Theo Houwen.
'As Driscoll's continues to develop throughout the world, our values along with our mission to continually delight berry consumers through alignment with our customers and berry growers become increasingly essential to our competitive edge and long-term success,' said Soren Bjorn, senior vice-president of international and business development at Driscoll's Strawberry Association.
The merger will create a Europe-wide organisation unified around Driscoll's mission and values, the group noted, as well as providing a single entity through which customers can secure and plan their supply. Additionally, the deal gives Driscoll's an immediate foundation of facilities, customers and contacts in Spain and Morocco.
Other key objectives of the merger, the group said, were regaining control of Driscoll's genetics in Spain and Morocco, as well as taking responsibility for pushing Spain and Morocco into critical supply areas for Driscoll's of Europe.
'Driscoll's looks forward to stronger earnings and long-term growth through improved grower economics, efficiency and effectiveness in operations, and an improved balance between supply and demand, the group explained. 'Production will continue to grow in all parts of Europe... from the north to the south.
'With this unified organisation and production expansion Driscoll's of Europe will be able to continue to build the Driscoll's brand in the European market.'
