AG Thames has launched a new company aimed at developing product innovation.
The supermarket supplier has set up NewStairs Ltd, a dedicated business that will invest in varietal development and joint ventures with growers.
The company will also fund research, concept orchards and acquisitions of key farms with the new varieties.
AG Thames has been working hard to establish new varieties. Last autumn it acquired the exclusive production and marketing rights for UK-grown Sweet Sensation pears and today it launched a new seven hectare orchard with the fruit at East Malling Research station in Kent.
AG Thames technical manager Francis Wheatley told FPJ the new business will look to develop top-fruit and stonefruit varieties.
It has already begun work in extending peach and nectarine seasons and is liaising with growers in Spain, Italy, France and north Africa.
NewStairs is also working on the development of red flesh apples and has the rights to Red Love. Wheatley said: “We have had supermarket interest on red flesh and there’s trials here, in Switzerland, the US, Italy, France and Spain, but I think we are still three to four years away.”
Group turnover including joint ventures totalled £298.8 million in the year to 30 September 2010, up from £275m the previous year, according to accounts submitted to Companies House last week.
Pre-tax profit for the period totalled £5.1m, up from £4.9m the year before. The group said its continued investment in soft-fruit procurement and marketing had led to a 67 per cent increase in soft-fruit sales.
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