WATSONVILLE, CA - Recent news details that Driscoll’s is among one of the buyers of Australian produce company Costa Group, which was purchased as part of an experienced North American-based consortium led by Paine Schwartz Partners and including British Columbia Investment Management Corporation.
“We welcome the Costa Group into the Driscoll’s family and look forward to deepening our relationship with even more deliberate collaboration across the globe,” said Soren Bjorn, Chief Executive Officer of Driscoll’s. “This is one of the largest equity investments Driscoll’s has ever made, which speaks to the formidable partnership and considerable value we see in the Costa portfolio and the company’s long-term future and growth prospects.”
As this new partnership begins, Driscoll’s and Costa will be working on specific projects to grow the global berry business. Existing arrangements between the companies in China, Australia, and the Americas will also continue unaffected.
This new ownership arrangement is a natural progression of the relationship between Driscoll’s and Costa, which began in 2010. As a press release outlined, the two companies equally own a joint venture in Australia. Driscoll’s also has an expansion program in the Americas using Costa blueberry varieties. In 2016, Driscoll’s and Costa formalized a joint venture that oversaw the two companies starting a berry production company in China.
Costa is a strategic and valuable partner to Driscoll’s. It has long been recognized for its development of genetic and new plant varieties, including blueberries. In 2023 alone, the company launched four new blueberry varieties.
We look forward to hearing more about these developments—stay tuned to ANUK as we cover.
