BAKERSFIELD, CA - Some strategic acquisition news came across our desks this morning at the ANUK headquarters, unveiling a tactical deal between Sun World International and Biogold Group. Sun World has announced its acquisition of the South Africa-based global fruit variety rights manager.
"Sun World is known for commercializing carefully, and being intentional when releasing our genetics, in service of maximizing benefits to our producer licensees," said David Marguleas, Chief Executive Officer of Sun World. "Similarly, we make very few acquisitions and when we do, we do so with discipline. There couldn't be a stronger business case than this alliance. It’s a powerful accelerant for both companies and a pretty seamless integration for two already strong organizations and leadership teams."
Trading as Citrogold in South Africa, Biogold is recognized as a preeminent global supplier of citrus genetics, a press release explained. Biogold has an extensive citrus range which will serve as a strong value-add to Sun World’s strong positioning in the table grape and stonefruit sectors.
As the release continued, Biogold holds varietal management rights to a significant portfolio of not-yet-commercialized varieties, creating a parallel path with two revenue streams and making the growth runway for the combined company formidable.
Along with its own formidable mango breeding program, the company also said it manages significant rights to varieties developed by third-party breeders, brandishing one of the world’s largest mango and avocado collections.
The company’s operations will continue to be run by Viresh Ramburan as Vice President, Global Licensing, Citrus and Subtropicals.
"This acquisition instantly catapults our combined company onto a new growth path," said Ramburan. "We’ve developed unique expertise in helping fruit breeders monetize their valuable genetic assets, effectively serving breeders across sectors which include government, academia, and private entities. This acquisition creates a symbiotic relationship that will be highly scalable to the benefit of both parties and to our customers—both fruit breeders and growers."
Sun World began targeting the citrus, mango, and avocado categories as opportunities for growth in 2019, witnessing explosive retail growth and demand across each sector.
Zak Laffite, President of Wonderful Citrus, also commented on the deal.
"Biogold is an invaluable supplier to Wonderful Citrus," said Laffite. "We have tremendous respect for the quality of their varietals, and know that with Sun World and Biogold under one roof, we will see tremendous benefits for the industry as a whole."
Read more about the recent transaction here, and keep reading ANUK for the latest industry news.
