BerryWorld Group, the UK-based soft fruit specialist, has been acquired by peer Agroberries, which already held a minority stake in the business.
The parties said the deal creates the second-largest berry company in the world.
And, in an unrelated transaction, Canada’s Mastronardi Produce has taken full ownership of its North American joint venture with BerryWorld.
Financial details were not disclosed for either deal.
Chile-headquartered Agroberries, which has berry farming operations in its home country, the US, Mexico, Argentina and Peru, said the acquisition of BerryWorld will create a platform for “further organic and inorganic growth”.
BerryWorld, based in Hertfordshire, north of London, said the deal will present opportunities for customers, growers and employees.
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By GlobalData
Agroberries acquired a minority stake in BerryWorld, Europe’s largest marketer of berries, in 2023.
US agri-food heavyweight Continental Grain Company (Conti), which first invested in Agroberries in 2022, played a role in bringing the parties together and has now increased its investment in the combined company.
It said it will use its international network and operating knowledge to support the strategic development and expansion of the combined business.
That combined company will commercialise approximately 150,000 metric tons of blueberries, strawberries, raspberries and blackberries per year, sourced from an agricultural-production footprint that spans more than 3,000 hectares and from associated growers across 30 countries.
Jorge Varela, co-founder and CEO of Agroberries, will serve as global CEO of the combined entity. He said: “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.”
Adam Olins, co-founder and CEO of BerryWorld, will continue to lead BerryWorld. He said: “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 organisations 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.”
Meanwhile, Canada’s Mastronardi Produce has acquired full ownership of the Mastronardi BerryWorld North America joint venture which it has shared with the UK company since 2018.
Ontario-based Mastronardi, which produces berries, tomatoes, peppers, cucumbers and lettuce and owns brands including Sunset, Backyard Farms and Queen of Greens, will retain access to the BerryWorld breeding programme following its taking control of the former joint venture.
Paul Mastronardi, president and CEO of Mastronardi Produce, said: “Our partnership with the BerryWorld Group over the past five years has allowed us to deliver exceptional berries to the North American market.
“Access to these premium varieties through this association with BerryWorld has played a crucial role in establishing Mastronardi Produce as an emerging player in the North American berry market.”
David Gray, BerryWorld’s president, said: “This acquisition allows the BerryWorld Group to dedicate its resources to researching and developing premium, high-flavour varieties while enabling Mastronardi to concentrate on their advanced grower network and leading marketing capabilities.”
In connection with the buyout, Mastronardi will continue to hold the exclusive rights to market all “premium” berry proprietary varieties in North America that were previously licensed to Mastronardi BerryWorld America. It also has the rights to all future high-flavour propriety berries developed under such licenses.
The rights extend over all four berry categories – strawberries, raspberries, blackberries and blueberries.
