The company strengthens its agri-export capabilities and expands its global reach and R&D efforts in the grape industry
Agritech company DeHaat has acquired a part of Freshtrop Fruit in an all-cash deal. The acquisition includes Freshtrop Fruit's export network, grading, packing, and pre-cooling centres, and the top leadership team. This is DeHaat's seventh acquisition deal overall and the fourth in the output domain, following the twin acquisitions of YCook India Pvt. Ltd. and FieldFresh Foods last year.
DeHaat acquires Freshtrop Fruit's export network and leadership team in an all-cash deal. DeHaat strengthens its agri-export capabilities by acquiring Freshtrop Fruit, expanding its global reach and R&D efforts in the grape industry.
The investment will help DeHaat with grape exports from India to the rest of the world and build R&D capabilities to grow new grape varieties. In a statement, Shashank Kumar, co-founder and CEO of DeHaat, said, "We are super excited about this collaboration to grow the grapes and overall agri-export business together.
Each member of Freshtrop's founding family, along with the larger team, will continue to remain actively involved in the business, and DeHaat will bring its network and resources for market expansion, development of new grape varieties, and technology-led deeper pre-harvest support to the associated farmers."
Freshtrop Fruits Ltd. is publicly listed and based in Ahmedabad. The company exports grapes and other fruits like pomegranate and mango from India to supermarket chains in the UK, the European Union, and other countries. It was founded in 1992 by Ashok Motiani and his family.
DeHaat, which means "rural" in Hindi, was founded in 2012 by Shashank Kumar and co-founders Shyam Sundar Singh, Amrendra Singh, Adarsh Srivastava, and Abhishekh Dokania. Initially headquartered in Patna, the company follows a two-pronged business model: selling inputs to farmers, purchasing their produce, and selling it to bulk buyers. Of late, it has also started exporting this produce.