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Mike Knowles



OTC directors buy back shares from Van Rijn

Mutual benefits of alliance signed at the start of 2012 "failed to materialise", say company directors

OTC directors buy back shares from Van Rijn
Fred Kloen and Edward Out of OTC-Holland

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The director-owners of Netherlands-based organic fresh produce specialist OTC-Holland have taken full control of the company by repurchasing a minority shareholding owned by another Dutch company, Van Rijn Group.

In a statement, managing director Edward Out and commercial director Fred Kloen confirmed that, as of 28 May, they had left Van Rijn and regained all of the shares it held in OTC-Holland as well as its subsidiaries OTC-Belgium an OTC-USA.

While insisting that the market for organic fruit and vegetables was still growing, despite the current economic downturn, the two directors explained that the strategic alliance with Van Rijn – established at the beginning of 2012 in order to optimise and grow

OTC's business – had not met the partners' initial expectations and, they admitted, "intended synergies had failed to materialise".

Kloen said OTC would benefit from the move and expected positive growth in terms of both volume and turnover during the coming year: "We want to take advantage of the many opportunities we see in the global organic fruit and vegetables business," he commented.

He added: "We believe that our goals and ambitions can still be achieved by expanding partnerships and strengthening relationships with suppliers and customers. We look ahead to the future with full confidence and optimism."

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