Key Takeaways:
- Driscoll’s, alongside partners led by Paine Schwartz Partners and including British Columbia Investment Management Corporation, has acquired Costa Group, highlighting a significant investment in Australia’s leading fresh produce company.
- This acquisition, one of Driscoll’s largest equity investments, underscores the partnership’s value in Costa Group’s portfolio and future growth.
- Costa Group, with a history dating back to the late 1800s, is a global leader in horticulture, known for its premium produce and innovation, especially in blueberries.
- The acquisition builds on a long-standing relationship and joint ventures between Driscoll’s and Costa, aiming to expand the global berry business.
- The consortium plans to leverage Costa’s comprehensive network and innovative product pipeline to enhance the global berry market.
A Strategic Partnership for Global Expansion
Driscoll’s, in a strategic move with a consortium led by Paine Schwartz Partners and including British Columbia Investment Management Corporation, has finalized the acquisition of Costa Group. Soren Bjorn, CEO of Driscoll’s, stated, “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 Group’s Legacy and Global Footprint
Costa Group, originating in the late 1800s, has emerged as a global horticultural leader, boasting a vast array of premium fresh produce and a strong focus on innovation, particularly in blueberries. The company’s dedication to agronomic excellence has led to the launch of four new blueberry varieties in 2023 alone, underscoring its position as an industry innovator.
Deepening Collaborations and Future Prospects
The relationship between Driscoll’s and Costa, which began with a joint venture in Australia in 2010, has now culminated in this acquisition, further solidifying their partnership. “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,” Bjorn added. This strategic acquisition aims to bolster the global berry business, with both companies continuing their existing projects in China, Australia, and the Americas.
Investment Insight and Global Impact
The involvement of Paine Schwartz Partners, known for its substantial investments in the agriculture and food supply chain, including a prior stake in Costa, alongside British Columbia Investment Management Corporation, highlights the strategic importance of this acquisition.
