Greenyard announces that Greenyard Fresh has acquired a 49% stake in Mor International, whereby it has the option to become majority owner in the future, for an undisclosed amount. Mor International is a well-known Israeli fruit sourcing and exporting company strongly focused on sourcing high quality exotics (mangos, avocados, kakis, pomegranates, fresh dates and bell peppers). The company realised around € 50m sales in 2017.
Already today, Mor has long-term relationships with important growers, both within and outside Israel. As such, the company is ideally positioned to reinforce Greenyard’s strategy to build a direct connection with the grower via programmed growing, ensuring a high quality and freshness for the consumer. Furthermore, Mor enables Greenyard to enlarge the geographical spread and sourcing capabilities.
Hein Deprez, CEO of Greenyard: ‘ Greenyard sources more than 3 million tons of fruit and vegetables per annum, from fork to field, to fill our vertical funnel towards food retailers and foodservice. With Mor International, Greenyard further strengthens its leading position and enhances the availability, quality and variety of the product offering. Moreover, Mor International will further help Greenyard in its goal to increase consumption of fruit and vegetables. Hence, the transaction implies an increased focus on our strategy and priorities to continue generating profitable growth and strengthening our global leadership position in fruit and vegetables.’
About Greenyard
Greenyard (Euronext Brussels: GREEN) is a global market leader of fresh, frozen and prepared fruit & vegetables, flowers, plants and growing media. Counting Europe’s leading retailers amongst its customer base, the group provides efficient and sustainable solutions to customers and suppliers through best-in-class products, market leading innovation, operational excellence and outstanding service. Our vision is to make lives healthier by helping people enjoy fruit & vegetables at any moment, easy, fast and pleasurable, whilst fostering nature. With more than 9,000 employees operating in 25 countries worldwide, Greenyard identifies its people and key customer and supplier relationships as the key assets which enable it to deliver goods and services worth € 4.25 billion per annum. www.greenyard.group
Soiurce: Greenyard