MADRID, Spain, Aug. 16, 2023 (GLOBE NEWSWIRE) -- A groundbreaking transformation has emerged in the realm of fresh, healthy, and natural foods as AMFRESH Group, in partnership with EQT Future and Paine Schwartz Partners, proudly announces the successful acquisition of 100% of IFG, a global expert in table grape and cherry breeding. This momentous milestone has catalyzed the merger with AMFRESH’s SNFL Group, an industry leader in table grape genetics, paving the way for the birth of an extraordinary global breeding entity: BLOOM FRESH International.
In a world that increasingly demands healthier, more informed food choices, BLOOM is poised to revolutionize the landscape of fresh produce with innovation and expertise that respond to this evolving consumer paradigm. The combined strength and heritage of both companies, now under the BLOOM banner, will accelerate traditional fruit varietal breeding to create an unprecedented dynamic agri-tech platform driving advancements in taste, nutrition, sustainability, and global accessibility.
Harnessing the Power of Breeding Excellence
Marking a historic milestone, AMFRESH Group, EQT Future and Paine Schwartz Partners successfully complete the acquisition of International Fruit Genetics, merging it into SNFL Group to establish BLOOM FRESH International as a consolidated breeding powerhouse.
Alvaro Muñoz, AMFRESH's Chief Executive Officer, exclaims, "Today signifies a pivotal moment, uniting two global breeding forces. Our journey transforms competition into collaboration, uniting our stakeholders. Our goal remains steadfast: to serve our growers, retailers, and consumers with excellence, backed by an unwavering commitment to innovation and sustainability. We stand united, stronger than ever before, as a singular global breeding innovation company. BLOOM embodies a pinnacle of innovation, offering enhanced global capabilities, expanded reach, and elevated breeding expertise. Our goal at AMFRESH and BLOOM is to excite consumers worldwide with superior eating, tasting and nutritional produce that shall increase demand and market size for sustainably produced and improved natural fresh foods. The advantages of aligning our newly formed genetic powerhouse BLOOM in table grapes and cherries with AMFRESH’s Citrus and Tropical genetic platform GENESIS INNOVATION shall be an attractive platform for all our partners worldwide."
By cultivating superior varieties that cater to health-conscious consumers worldwide while simultaneously minimizing the footprint on the planet, BLOOM pioneers a path toward a brighter future by nurturing the Earth's resources – saving water, curbing the need for excessive phytosanitary products and excessive land use while fervently embracing sustainable practices.
BLOOM: Pioneering Innovation in Agri-Tech
The newly formed BLOOM represents a bold commitment to enhancing the lives of consumers across the globe by cultivating a spectrum of healthier, more sustainable and flavorful fruit offerings. Harnessing the synergy of traditional breeding practices and cutting-edge agri-tech possibilities, BLOOM will transcend boundaries in fruit breeding to deliver unparalleled quality and taste. At its core, BLOOM's commitment transcends taste, aligning with the optimization of consumer health and the conservation of the planet's resources. Simultaneously enhancing customer-centric varieties while reducing resource consumption, BLOOM personifies nourishment for individuals and the environment alike.
As the newly appointed Chief Executive Officer of BLOOM, Kenneth Avery shares his enthusiasm for this metamorphic journey, stating, "I am incredibly honored to step into this leadership role for BLOOM. The future is ripe with opportunity, and I am genuinely excited about the transformative impact we will have on the industry. Together, we will drive innovation as we cultivate a new era of flavors, nutritional benefits, and sustainable practices that resonate far beyond the farm."
Embracing a Sustainable Future
EQT Future's strategic investment in BLOOM echoes its commitment to fostering industries that champion positive change. By aligning with BLOOM's mission to enhance agricultural productivity, EQT Future is contributing to a more sustainable and resource-conscious future. Carl Johan Renström, Partner within EQT Future's Advisory Team expresses his excitement, "We are thrilled to have the opportunity to support BLOOM, an innovative breeding company that is at the forefront of fruit breeding. We hope the partnership will accelerate BLOOM's growth while potentially also shaping the wider fruit industry for the better."
Empowering Growers Globally through Innovation and Expertise
BLOOM emerges as a game-changer for growers on a global scale and heralds an era of innovation and progress. The robust breeding platform invests heavily in cutting-edge technologies, sustainable practices, and advanced farming techniques, resource-efficient, high-yield cultivars. BLOOM ensures improved grower economics and creates a quantum leap towards a greener, more prosperous future. Growers will have access to cultivated expertise, empowering them to thrive in an increasingly dynamic environment. BLOOM champions the cause of grower success, offering a robust platform, resource-efficient cultivars, and a commitment to innovation that will shape a brighter tomorrow for growers worldwide.
A Synergy of Genetic Prowess and Agri-Tech Mastery
BLOOM boasts a robust global footprint across 22 countries, exemplifying its commitment to driving global breeding innovation. The culmination of this transformation together with in-depth details of BLOOM’s global team structure and strategic priorities will be showcased at Fruit Attraction in Madrid, Spain this October, where BLOOM will unveil its revolutionary contributions to the world of fresh produce.
AMFRESH is the controlling shareholder of BLOOM, with significant minority investment from EQT Future and continued investment from Paine Schwartz Partners. BLOOM and the consortium were advised by Morrison Foerster, Allen & Overy, Pérez Llorca, PriceWaterhouseCoopers and Dentons UK, representing the caliber and dedication of partners involved in this monumental endeavor.
About AMFRESH Group
AMFRESH Group is a global fresh food company focused on spearheading varietal innovation, agriscience and biotechnology, extensive farming and global commercialization of Citrus, Table Grapes, Tropical & Superfoods, Plant-Based Foods, Top-fruit, and Flowers at scale. Equipped with over 90 years of expertise, AMFRESH Group is privately held, present in over 60 countries with 6,200 employees with a passion and commitment to innovate, it operates as an end-to-end vertically integrated model to serve the top retailers worldwide. For more information, please visit www.amfresh.com.
About BLOOM FRESH International Limited
BLOOM FRESH International is the world’s largest premium fruit-breeding company, created by the merger of SNFL Group (Special New Fruit Licensing) and International Fruit Genetics, LLC (IFG). With 45 years of combined experience, BLOOM uses natural breeding techniques to develop new table grape, raisin, and cherry varieties for customers worldwide. BLOOM will advance the produce industry by bringing forward varieties with improved eating characteristics and long-term sustainable crop production for growers.
About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of developing companies across multiple geographies, sectors and strategies. EQT has investment strategies covering all phases of a business’ development, from start-up to maturity. EQT works with portfolio companies to achieve sustainable growth, operational excellence, and market leadership. EQT today has EUR 126 billion in fee-generating assets under management, within two business segments – Private Capital and Real Assets. More info: www.eqtgroup.com. Follow EQT on LinkedIn, Twitter, YouTube and Instagram.
About Paine Schwartz Partners
A global leader in sustainable food chain investing, Paine Schwartz Partners is a private equity firm focused exclusively on investment opportunities in the fast-growing, dynamic global food and agribusiness sectors. The firm’s investment, operations and finance professionals invest throughout cycles across the food and agribusiness value chain and bring a collaborative and active management approach to portfolio companies. For further information, please see www.paineschwartz.com.
Contacts
AMFRESH Group and BLOOM FRESH International: patricia.sagarminaga@amfresh.com, Patricia Sagarminaga +34 669161941
EQT Press Office: press@eqtpartners.com +46 8 506 55 334
Paine Schwartz Partners: Andy Brimmer / Aaron Palash. Joele Frank, Wilkinson Brimmer Katcher, +1 212 355 4449
2023 BLOOM FRESH International. All rights reserved. BLOOM and the BLOOM logo are registered trademarks of BLOOM FRESH International, part of AMFRESH Group.
