Jain Farm Fresh Foods acquires Belgium based Innovafood

Jain Irrigation Systems announced that its subsidiary, Jain Farm Fresh Foods, through its multi generation Wholly Owned Subsidiary in Belgium has acquired 100% stake in INNOVAFOOD N.V. Belgium and its affiliate companies.

Founded in year 2000, Innovafood is a leading importer, stockist and distributor of food ingredients and has become one of the leading player in the dehydrated vegetables, spices and other food ingredients in Belgium, The Netherlands, France and other neighbouring countries. Innovafood has developed an unparalleled, high quality and long-term supply chain and supplier relationships in India, China, USA, EU, Morocco, Indonesia and Uzbekistan. Company also enjoys a very strong and long-term customer loyalty in the markets it operates in. It offers a large basket of key food ingredients of dehydrated vegetables, herbs, spices and spice extracts, freeze dried products, natural food colours, bio products, etc. Large customer base includes food processing industry, food blenders and re-packers, etc.

Innovafood has been exclusive distributor of Jain Farm Fresh Foods for last 15 years in BENELUX (Belgium, The Netherlands and Luxemburg) and France markets for some of the key food ingredients supplied by Jain Farm Fresh Foods, India.

This acquisition aligns with another similar strategic investment in the UK by JFFFL into a similar business covering British Isles 7 years with very impressive performance till date. This acquisition will help Jain Farm Fresh Foods to get one step closer to the market, have direct presence in large food ingredients market, bring cost efficiencies by optimizing supply chain and provide market access and further value addition opportunities in food ingredients market directly.

No government of regulatory approvals are required to complete this transaction.

Powered by Capital Market - Live News