Foodiverse and Taylor Farms, growers and producers of fresh-cut salads, vegetables and healthy fresh foods in Europe and North America respectively, have reached an agreement to welcome the US company as a new shareholder in the Spanish group. Both companies will become partners through a capital increase in cash that will provide Taylor Farms a significant share in Foodiverse’s capital.
This transaction, which is expected to be closed in the upcoming weeks, is currently awaiting ratification by the Spanish National Markets and Competition Commission and is subject to necessary bank regulatory approvals and other customary closing conditions.
Taylor Farm’s entry as Foodiverse’s shareholder will enable the creation of synergies as well as the exchange of best practices with both market leaders’ commitment to sustainability, quality, innovation and food safety. Moreover, it will promote their continuous growth and the development of new, innovative, fresh, and healthy products, tailored to meet the demands of modern consumers.
Jesús Gómez, CEO of Foodiverse, states: “We are enthused to have Taylor Farms as a strategic partner and proud that they have chosen our company for this purpose. This operation will strengthen our position for a sustainable growth, keeping our focus on shared values such as the highest quality and freshness of our products, innovation, and sustainability”.
Bruce Taylor, Founder and CEO of Taylor Farms, remarks: “We look forward to partnering with the excellent team at Foodiverse. Joaquín Ballester and Jesús Gómez have created a dynamic company that is focused on creating strong partnerships with their retail customers.”
The partnership will allow the permanency of both Foodiverse’s current management team and its president, Mr. Joaquín Ballester, who will continue leading the Spanish multinational, with production plants in Spain, Germany, Switzerland and Italy.
For this transaction, Foodiverse received legal advice from Broseta and financial guidance from DC Advisory, while Taylor Farms sought counsel from the Spanish law firm Pérez Llorca and the US law firm Gibson, Dunn & Crutcher.
For more information:
www.foodiverse.com/en
www.taylorfarms.com