Business Daily from THE HINDU group of publications
Wednesday, Aug 30, 2006
Business Daily from THE HINDU group of publications Wednesday, Aug 30, 2006 |
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Corporate
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Mergers & Acquisitions Agri-Biz & Commodities - Foods & Food Processing Global Green acquires Belgium co Our Bureau
Intergarden has processing factories in Belgium, Hungary, Turkey and India. The company produces pickled products such as gherkins, silverskin onions, sour cherries, red peppers, capers and mixed vegetables for the private label category.
New Delhi , Aug 29 Thapar Group's Global Green Company announced on Tuesday that it has acquired the € 50-million Belgium-based Intergarden Group. The acquisition will give Global Green Company a strong foothold in key European markets. Post-acquisition, with a total turnover of $100 million, Global Green Company becomes the third largest pickle supplier in the world and the largest outside the US, a company statement said. "This acquisition represents a significant achievement for the Thapar Group," said Chairman Mr Gautam Thapar. "It validates the strength of our Group's business and the confidence and trust global players have in us. More than ever, it also reiterates our commitment to creating a globally successful Indian company in the agriculture sector." Global Green Company Ltd is a member company of the $2.1-billion Thapar Group. "In Intergarden, we have acquired a business and a set of competencies that perfectly complement our own," said Mr Vineet Chhabra, Managing Director, Global Green Company Ltd. "For our customers, it means an enhanced portfolio of products from one entity manufactured to a consistently high standard of quality and excellence. It also extends our global footprint, giving us better access to our customers, and reinforces our commitment to `seed to shelf' service to the global retail chains." Intergarden has processing factories in Belgium, Hungary, Turkey and India. The company produces pickled products such as gherkins, silverskin onions, sour cherries, red peppers, capers and mixed vegetables for the private label category. It also retails products under its own Greenhouse brand. Established in 1996, Global Green Company already supplies gherkins, jalapenos and other preserved foods to retail and foodservice customers in more than 23 countries and about 30 cities in India. It is a private label supplier to some of the world's premium food retailers in addition to exporting products under its own brand name Eden Garden. In India, the company retails under the brand name Tify.
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