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BayWa AG acquired the majority stake of 68.4% of the Dutch supplier of exotic fruits and vegetables, TFC Holland B.V. (TFC) based in De Lier. The transaction is valued at € 28.7 million and subject to approvals by the German and Austrian antitrust authorities.
By expanding its portfolio in the growth market for exotic speciality fruits, in particular in the "ready-to-eat" sector, BayWa AG is strengthening its position as a leading international supplier of exotic and pome fruit. "The European market for exotic fruits has been on the rise for several years. TFC's product range of appealing specialities is an excellent complement to our existing pome fruit business," said Chief Executive Officer of BayWa AG, Klaus Josef Lutz, thereby describing the growth strategy in the agricultural sector for specialties. "For the European food retail industry we are gaining significance for future cooperation as a result of this majority stake."
The fruit business is one of the strongest internationally focused business areas within BayWa Group. The business was largely shaped by the takeover of T&G Global in New Zealand in 2012 and is characterised by trading relations in procurement and sales markets in Asia, Europe and America. In Germany, BayWa is a leading supplier to the German food retail industry, the largest single marketer for German dessert pome fruit and the largest supplier for pome fruit from biological contract farming.
ABOUT TROPICAL FRUIT COMPANY
Tropical Fruit Company (TFC) is active in the exotic fruit trading business and has long-standing international trade relations in all relevant product markets, mainly for avocado, mango, ginger and citrus fruits, as well as with the European food retail industry.
BayWa is a leading international trade and services group with headquarters in Munich. The BayWa Group’s business model comprises trading products and trade-related services in three segments: Agriculture, Energy and Building Materials. In the Agriculture and Energy Segments, the Group pursues a systematic internationalisation strategy in order to participate in global market growth and ensure that the company remains independent and fit for the future. With about 17,000 employees, BayWa generates revenues of over € 15.2bn.