Major table grape asset to go for sale
SNFL, part of the AMC Group, has applied in the Chancery Division, High Court, London, for the liquidation of one of its own subsidiary companies Vitis International Ltd (UK based company). The application will be heard on 27 April 2015. SNFL is a 50% shareholder and has called in its loan account. The other 50% is owned by Colors Fruit (UK) Ltd.
Vitis was established in 2006 to purchase the private breeding programme of Mr Shachar Karniel in Israel. Mr Karniel is also the world renowned breeder of the ARRA varieties on behalf of Guimarra Vineyards of California, USA. The Vitis programme has a number of outstanding table grape varieties, of which K2 has been planted commercially in Spain. The K2 is an unique bi-colour grape variety with a very strong mango flavour and is very grower friendly.
From 2008 until 2010, Vitis started breeding their own varieties in South Africa using the Karniel varieties and the well-known Sheehan varieties like Allison, Melody, Magenta, Krissy and others, together with some unique, highly flavoured varieties as parents. These seedling selections have been evaluated since 2010 in South Africa and are showing a lot of promise already, with 15 of them selected to date as potential winners for the future.
The opportunity for business people involved in the table grape industry is to purchase this programme which will give them:
1. The worldwide rights to great varieties
2. The worldwide rights to approximately 2000 seedlings with some showing great promise for the future already.
3. The worldwide rights to continue to breed with this incredible germplasm or to allow someone else to breed with it, in return for royalties. To have access to the Vitis and Sheehan germplasm is really unique.
SNFL has indicated that the value of the Vitis breeding programme is £1million, which will make it the biggest gem for sale ever in the table grape industry, according to Liezel Kriegler, director of Colors Fruit (UK) Ltd. The value to get access to the varieties and germplasm is much higher, she says, because there is probably only one or two other programmes that can compete in the world. According to Ms Kriegler, they do not want Vitis to be liquidated and are seeking partners to purchase the full programme from Vitis or the shares of SNFL.
For more information:
Liezel Kriegler
liezel@reinc.co.za