Continental Grain Company (Conti) is to make a significant investment in Chile’s Agroberries to fuel its global expansion programme.
Agroberries is global vertically integrated company which sells over 50,000 tonnes of berries per year, primarily in North America and Europe. These are sourced from more than 2,000ha of its own farms and a diverse network of third-party growers spanning five countries.
“Wellness and demographic trends continue to drive strong momentum for fresh produce consumption,” Conti said in a press release.
“Given their high nutritional value, demand for fresh berries has continued to climb, making them one of the fastest growing fresh produce categories at retail stores globally. As a result, customers are seeking year-round suppliers of high-quality berries.”
Conti’s investment will enable Agroberries to expand its production assets and global distribution capabilities, both organically and inorganically, as well as accelerate the roll-out of proprietary varietals to further strengthen the company's year-round offering across berry categories.
As a long-term partner, Conti said it will use its international network, M&A resources, and operational expertise to support Agroberries' strategic development initiatives.
Jorge Varela, co-founder and CEO of Agroberries, commented:“I'm excited about the possibilities arising from our partnership with Conti, and confident it will accelerate our global expansion plans, give our customers increased access to our novel proprietary varieties, and offer exciting professional development opportunities for our management team”.
Carlos Poblete and Ignacio Sanz serve as co-heads of Latin America for Conti. Poblete said:“We have known the leadership team of Agroberries for years and believe the Company is well positioned to capitalise on a wide range of growth opportunities going forward”.
Sanz added:“We are excited to partner with Agroberries and support the next phase of the Company's global expansion.
“Agroberries has established itself as a high-quality supplier in the markets it currently serves, and we intend to further grow the business through acquisitions that expand the Company's geographic reach”.