Paine Schwartz Partners and AMFresh Group announced that they are joining forces to establish a table grape operating company. Paine Schwartz has made a 30% investment into AMFresh's SNFL (Specialty New Fruit Licensing) subsidiary. AMFresh will continue to retain a majority ownership position in SNFL.
Founded in 1992, SNFL is a platform for the development, licensing and commercialization of patented table grape varieties, anchored in a research and development engine. SNFL's proven varieties have demonstrated a track record of preference and demand by farmers, retailers and consumers globally, holding the top global position in licensed farming hectares.
The newly established partnership with – and investment from – Paine Schwartz will accelerate SNFL's activities in varietal breeding, development and registration, benefiting licensed growers and partners with stronger alternatives and improved portfolios. The partnership, committed to joint funding, will aid farming on a global scale and facilitate commercialization to retail partners with comprehensive solutions as bespoke production and long-term continuity are also part of the strategic focus of the joint efforts. AMFresh and Paine Schwartz have a focus on end consumers, aiming at delivering availability consistently and continuously, inspiring healthy food choices with optimized produce portfolios and improved production.
Alvaro Muñoz, Chief Executive Officer of AMFresh, highlighted, "We are very proud of the success achieved by SNFL in its first 25 years and believe that through a strategic partnership with an agribusiness investment company, our growth strategy and vertical integration vision will gain greater momentum. We believe that in Paine Schwartz we have found the perfect partner to help us execute our strategic vision. The partnership with Paine Schwartz is a catalyst for the execution of our global consolidation and vertical integration plans, enabling a faster transformation in the table grape sector globally with a focus on meeting the dynamic needs of growers, retailers and consumers, worldwide."
Kevin Schwartz, Chief Executive Officer and a founding Partner of Paine Schwartz, said, "Paine Schwartz is excited to partner with AMFresh to support the acceleration of multiple initiatives for SNFL. We share a common passion for the global fresh produce sector and a common vision for the growth opportunities that exist for AMFresh within table grapes."
For more information:
Andy Brimmer
Paine Schwartz
Tel: +1 212 355 4449
www.paineschwartz.com
Ursula Mejía Melgar
AMFresh
Email: ursula.mejia@amfresh.com
www.amfresh.com