<p>UNIVEG is entering a joint-venture deal with one of India’s largest grape exporters, Mahindra ShubhLabh Services Ltd. (MSSL), a subsidiary of Mahindra & Mahindra Ltd and part of the <B>$16.7 billion</b> Mahindra Group. MSSL and UNIVEG will hold <B>60 and 40 percent equity</b> respectively in the company, which will focus on modernizing the fresh fruit supply chain to provide high quality fruits to both domestic and international markets, improve yields, and reduce waste, according to a press release.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"> The joint venture is expected to strengthen MSSL’s Saboro brand, which focuses on other fruits such as <B>bananas, apples, pears, and citrus</b>, according to The Hindu Business Line. Fruits from the deal will be marketed under the Saboro brand.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"> “We consider this association the right mix of market presence and farmer connect,” said Hein Deprez, Executive Chairman & Major Shareholder for UNIVEG. “Mahindra’s reach, together with our proven technical expertise across 6 continents and 32 distribution centers in Europe will be beneficial for all stakeholders.”<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">According to India Times, <B>the joint venture intends to invest Rs 30 crore</b> (approximately <B>$5 million USD</b>) in the business over the next two to three years and intends to add another 500 to 600 farmers to source key fruits.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"> The release also states that UNIVEG will provide technical knowhow and best practices in quality control, post-harvest handling of fresh produce, ripening process, and farm agronomy practices and procedures to meet international quality standards. Meanwhile, MSSL will help arrange contract agreements across India while leveraging its domestic marketing and distributing network and providing the required local licensing and support services.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"> “This JV will enable both companies to leverage each other’s strengths thereby providing a win-win for farmers and end consumers alike,” said Dr. Pawan Goenka, Executive Director and President of Automotive & Farm Equipment Sectors at Mahindra & Mahindra. “Going forward, we plan to strengthen our partnership by further improving the fresh produce supply chain through various interventions and investments across India.”<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"> Ashok Sharma, Mahindra and Mahindra Chief Executive, says, “The first step is to build the supply chain for bananas and apples and alternatively import good quality fruits like kiwis, citrus, and pears in India with UNIVEG’s help. Two years from now, India could act as a major sourcing base for Univeg.”<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"> What can we expect to see from this mega merger in the near future? Stay tuned to AndNowUKnow as we continue tracking this massive joint venture.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.univeg.com/en" target="_new"> UNIVEG </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.mahindra.com/What-We-Do/Agribusiness/Companies/Mahindra-ShubhLabh-Services" target="_new"> Mahindra ShubhLabh Services Ltd.</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">
