US-based salad producer Taylor Farms has agreed to buy a stake in the Spanish vegetable group Foodiverse.
The companies will become partners through a “cash capital increase” to be completed in the “coming weeks”, providing Taylor Farms with a “significant stake” in Foodiverse, according to a joint statement.
The purchase is subject to regulatory approval of the Spanish National Commission for Markets and Competition. Financial terms were not disclosed.
Bruce Taylor, the CEO of the US business, said: “We look forward to partnering with the excellent team of professionals at Foodiverse. Joaquín Ballester and Jesús Gómez have created a dynamic company focused on creating strong ties with their retail customers.”
Foodiverse will continue to be led by its president Ballester.
The companies said the aim of the purchase is to expand into new markets and create synergies to allow the exchange of best practices in terms of sustainability, quality, innovation and food safety.
“We are excited to have Taylor Farms as a strategic partner and proud that they wanted to bet on Foodiverse. This operation will strengthen our position to continue growing sustainably, maintaining our focus on shared values such as the highest quality and freshness of our products, innovation and sustainability,” said Jesús Gómez, CEO of Foodiverse.
Foodiverse is a multinational group of vegetable producers with a portfolio focused on ready-to-eat salads and vegetables. It has production plants in Spain, Germany, Switzerland and Italy. The food group owns brands such as Sun&Vegs and Freshkia.
Taylor Farms is based in California and is a manufacturer of chopped salads, salad kits, salad dressings and snacks. The company is present in the markets of the US and Canada and employs around 20,000 people.
Taylor Farms bought a batch of Curation Foods assets from Landec Corporation in a deal worth more than $73m in December 2021. Earlier that year, the grower and processor of leafy salad greens had invested in indoor-farming specialist Pure Green Farms.
