Driscoll’s, the global leader in fresh berries, announced it has completed the purchase of Costa Group, Australia’s leading grower, packer, and marketer of fresh fruit and vegetables.
Costa was started in the late 1800s by the Costa family in Geelong, Victoria, Australia. The company said in a release that it has since grown into a leading global horticultural company whose agronomic expertise and innovation are widely acknowledged.
The company’s fresh produce portfolio includes the growing, marketing, and supply of blueberries, glasshouse tomatoes, citrus, avocados, mushrooms, and table grapes.
Its production and grower network spans every state of Australia, China, Morocco, and southern Africa. Costa products are sold in numerous countries worldwide, including Europe, the U.K., Asia, and North America.
“We welcome the Costa Group into the Driscoll’s family and look forward to deepening our relationship with even more deliberate collaboration across the globe,” said Driscoll's CEO Soren Bjorn. “This is one of the largest equity investments Driscoll’s has ever made, which speaks to the formidable partnership and considerable value we see in the Costa portfolio and the company’s long-term future and growth prospects.”
Costa is recognized as an industry leader in the development of genetics and new plant varieties, especially blueberries, the release said. In 2023, it launched four new blueberry varieties with a strong forward pipeline of products to fuel future growth.
An evolving partnership with Driscoll’s
This new ownership arrangement evolved from the relationship started between Driscoll’s and Costa in 2010.
The two companies equally own a joint venture in Australia, which is now the leading marketer of blueberries, raspberries, strawberries, and blackberries in the country.
Driscoll’s also has an expansion program in the Americas using Costa blueberry varieties. In 2016, Driscoll’s and Costa formalized a joint venture that oversaw the two companies starting a berry production company in China.
Under the new arrangement, Driscoll’s and Costa will be working on specific projects to grow the global berry business. Their existing arrangements in China, Australia, and the Americas will also continue unaffected.
27/02/2024
