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Chris Komorek

BY CHRIS KOMOREK

@ckfruitnet

Monday 10th May 2021, 09:26 Hong Kong

Perfection Fresh acquires leading banana business

Purchase of Pacific Coast Produce Marketing to expand company's banana offering with The Red Tip Ecoganic banana

Perfection Fresh acquires leading banana business

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Perfection Fresh (Perfection) has purchased leading banana business Pacific Coast Produce Marketing (PCPM) as part of a move it said will “excite Australian consumers with new banana offers”.

Chief executive of Perfection, Michael Simonetta, said the acquisition is an excellent fit with the company’s focus on driving innovation in fresh produce.

“We decided to enter the banana category because we have the opportunity to grow the category as a whole by offering unique product offerings to different consumers,” said Simonetta.

By purchasing PCPM, Perfection has the opportunity to licence The Red Tip Ecoganic banana.

Ecoganic is the farming system designed by Frank and Dianne Sciacca in 1998. It sets our minimise the degradation and decline of reef and soil health caused by conventional growing practices in Far North Queensland.

Rather than relying on chemicals (synthetic or organic), the Ecoganic method grows bananas slowly, carefully and sustainably. The acquisition of PCPM will allow Perfection to extend Ecoganic farming practices to other crops in its portfolio.

Frank Sciacca, managing director of PCPM, said the acquisition would help advance its Ecoganic farming methods.

“We are thrilled to be able to continue to grow the Ecoganic farming system together with Perfection Fresh. The will take our patented farming method to new heights and we are excited about the benefits for both consumers and the environment,” said Sciacca.

Perfection’s acquisition of PCPM follows its recent purchase of licensing rights of two new banana varieties, marketed as Little Gem and Havana Bananas.

“These varieties are fantastic snacking options, particularly for children who are looking for a small healthy energy boost and will fit perfectly into the lunchbox, as well as adults who only want a smaller serving," said Simonetta.

“The banana category has lacked innovation in Australia, and we plan to change that by bringing choice for consumers in terms of size, taste, sustainability and other attributes.

“The Red Tip Ecoganic is a banana that tastes like a banana should – sweet and creamy with a well-rounded flavour,” he added.

PCPM's Chaise Pensini (category manager) and David Vella (category supply manager) will join Perfection as part of the acquisition.

Pensini has an extensive network within the banana category and an in-depth understanding of Australia’s banana industry.

“I’m looking forward to working with Perfection Fresh and other key stakeholders to grow the banana category in this country and abroad,” said Pensini.

Vella, meanwhile, has over 28 years’ experience in fresh produce retail buying, procurement, supply and operational management.

“We have the opportunity to reinvigorate the bananas segment with new varieties and innovation, and I’m excited to help develop ways to support growth into the future,” said Vella.

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