Jupiter Group acquires Cool Fresh International
The Jupiter Group has continued its global expansion with the recent purchase of Dutch fresh produce marketing company Cool Fresh International BV.
The acquisition includes Cool Fresh International’s logistics division Saphir BV and the Valencia-based commercial operation AgroMarketing Cool Fresh Espana in Spain.
“We are really excited to become part of Jupiter’s outstanding teams all over the world. The acquisition enables us to focus on our expertise, together offering our worldwide clients tailor-made, direct from farm solutions to their fresh produce requirements” says Hugo Vermeulen, managing director of Cool Fresh International.
Discussing how the purchase would strengthen Jupiter’s global reach, Mark Tweddle, CEO and group director says: “We are extremely excited about bringing the team and expertise of Cool Fresh International into the Jupiter family.
“Our own grape and citrus production in countries such as South Africa, Greece, Chile and Argentina create great synergies with Cool Fresh International’s client base across 54 countries, meaning we can further explore the broad retail base across the UK, Europe, Asia and Africa."
Currently, Jupiter has offices in six countries and has 150 employees. The company was recently placed in the Top 25 of the Sunday Times International Track 200 list for the second consecutive year, and has enjoyed average annual sales growth of 107% over the last two years.
With its purchase of Cool Fresh International, the group expects increased activity in the entirety of its supply network in the next few years.
Tweddle explains: "By 2021 we estimate the delivery of more than eight million cartons into our supply chain.”
With the acquisition's added value, the group says it plans to extend the benefits to its retail, food service and wholesale clients all over the world.
The purchase is just the latest of Jupiter's strategic moves - it also acquired the South African citrus producer Bonaire in November 2018, and has started harvesting the first of its new table grape varieties planted in South Africa, India, South America and Greece.
As far as Jupiter's recent acquisition, the group views the social investment values it shares with Cool Fresh International as an asset.
According to the group, Cool Fresh International has a high-level corporate social responsibility certification (CSR) and has striven to become an integral part of the community, implementing various community development projects based on sports and education in numerous countries.
Yvonne Tweddle, Jupiter Director and wife of CEO Mark says: “Not only is there commercial synergy with Cool Fresh, we are also very much aligned in terms of corporate social investment."
She elaborates: "The Nancy Tweddle Foundation mirrors the core values of the Stars in their Eyes Foundation, which was set up by Cool Fresh in 2006. Our aim is to follow our hearts in making the world a better place, something which the Tweddle family holds very dear”.