NEW YORK — Continental Grain Co. has announced an investment in Santiago, Chile-based Agroberries, which commercializes more than 50,000 tons of berries per year to a customer base primarily in North America and Europe. Financial terms of the investment were not disclosed.
Continental Grain, whose portfolio of investments also includes JAB Holding, Seaboard Corp. and C.P. Group, said its investment will be used to allow Agroberries to expand its production assets and global distribution capabilities as well as to accelerate the roll-out of proprietary varietals. Continental Grain said it will use its international network, M&A resources and operational expertise to support Agroberries’ strategic development initiatives.
“We are excited to partner with Agroberries and support the next phase of the company’s global expansion,” said Carlos Poblete, co-head of Latin America for Continental Grain. “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.”
Jorge Varela, co-founder and chief executive officer of Agroberries, added, “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.”Agroberries operates farms in Argentina, Chile, Mexico, Peru and the United States. The company’s US operations include blueberry farms in Oregon.