Mahindra Agri Solutions buys majority stake in OFD Holding BV -

Mahindra Agri Solutions buys majority stake in OFD Holding BV

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Mahindra Agri Solutions buys majority stake in OFD Holding BV

A leading Indian grape exporter has bought shares in the parent company that owns Origin Fruit Direct, Origin Direct Asia and Origin Fruit Services South America, which are based in the Netherlands, China and Chile respectively.

In a release, Mahindra Agri Solutions Ltd (MASL) announced yesterday it had signed a definitive agreement to buy a 60% stake in Dutch-based group OFD Holding BV as a key part of its vision to be among the top global players in grapes. 

In addition to Europe, Asia and South America, OFD also has a sourcing base in South Africa.

"It is a matter of great pride for us that we have entered into a partnership with OFD Holding BV, which takes us closer to achieving our vision of being a significant global player in grapes," MASL CEO Ashok Sharma said.

"We have been working with farmers in India for a very long time and this association will bring in a lot of synergy by giving access to new markets to our farmers.

"This is in line with Mahindra’s long term vision of Delivering FarmTech Prosperity and will provide our farmers with better returns."

MASL executive vice president Vikram Puri added the investment would give the group a presence in European and Chinese markets, allowing it to reach new customers and strengthen existing customer relationships.

"We are very proud to be associated with such a well-balanced and experienced professional team at OFD Holding BV and look forward to growing and building our grapes business together with them," Puri said. 

OFD Holding BV managing director Corné van de Klundert expressed excitement about the investment from Mahindra.

"This will strengthen our position as an integrated supply chain company. OFD was founded in 2006 as the sales operation of a South African producer, and has since developed a network of key retail customers in Europe as well as Asia," van de Klundert said.

"India is an increasingly important supplier of grapes to our markets and Mahindra is one of the largest exporters, which is giving us access to a growing volume of excellent quality grapes.

"We are looking forward to intensifying our cooperation with the Mahindra team and the growers, to jointly develop innovations, new markets and customers."


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