Chile-based Hortifrut, a global business platform that is engaged in the production and marketing of berries, will invest $20 million in IG Berries, a joint partnership between India’s leading fruit importer IG International, Australia’s Mountain Blue Orchards (MBO), and agri-business investor Mano D Babiolakis.
The investment will help IG Berries to expand its footprint in India, a statement from IG Berries said. IG International Executive Director, Tarun Arora, said the combination including Hortifrut is a ground-breaking event for the fresh produce industry in India.
“Our new partnership with Hortifrut as the global leader in blueberry and the strength of IG International in distribution and logistics will ensure this expansion transforms the berry business across India in the years to come,” he said. Hortifrut CEO Juan Ignacio Allende said the partnership offers a great platform in a new market.
“We see the potential and opportunity as significant and are looking forward to being a part of the berries’ growth story in India and beyond,” Allende said.
“Besides expertise and investment, Hortifrut will also be bringing top varieties including raspberries and blackberries to one of the most dynamic and promising markets in the world,” said Head of Asia Pacific for Hortifrut Bobby Yavari.
“The focus in India has always been to expand and grow the local market by bringing the best tasting blueberries to the consumer,” said Andrew Bell, Managing Director, MBO, which is providing the berry varieties exclusively to IG Berries in India.
Established in September 2017, IG Berries is cultivating the world’s leading blueberry varieties on three farms in Madhya Pradesh.