Italian fresh produce importer GF Group and Battaglio SpA have announced that they have agreed to terminate a long-standing business relationship to avoid potential future conflicts.
Following a 15-year partnership, the companies have opted to end their partnership to eliminate the possibility of 'conflicts that would almost certainly have arisen as a result of the continued growth of both companies in the Italian marketplace', according to a press release.
The move will allow each company to proceed with its desired development in an orderly and transparent manner, the groups noted.
As a result of the split, Fruttital Distribuzione Holding Srl, a GF Group SpA subholding, is selling its 30 per cent share in Battaglio SpA to Lusima Gestioni Srl, the Battaglio Family holding, which will thereby become the sole shareholder of Battaglio SpA.
According to the press statement, the two groups intend to maintain a business relationship with a view to continuing, intense and profitable cooperation, destined over the coming years to confirm the 'strong bond' that has been cemented over time.
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